IFTEKHAR HASAN Cary L. Washington Professor at the Lally School of Management and Technology, Rensselaer Polytechnic Institute, USA TIMO LIVARINEN Financial Markets and Statistics Department, Bank of Finland, Finland KARLO KAUKO Financial Markets and Statistics Department, Bank of Finland, Finland KARI KEMPPAINEN Financial Markets and Statistics Department, Bank of Finland, Finland TANAI KHIANONARONG Bank of Thailand, Thailand KARI KORHONEN Financial Markets and Statistics Department, Bank of Finland, Finland HARRY LEINONEN Advisor to the Board, Bank of Finland, Finland MARKKU MALKAMAEKI Pohjola, Finland ALISTAIR MILNE Senior Lecturer in Banking, Cass Business School, City University, UK KIRSI RIPATTI Financial Markets and Statistics Department, Bank of Finland, Finland HEIKO SCHMIEDEL European Central Bank, Germany OZ SHY Professor, Department of Economics, University of Haifa, Israel JUHA TARKKA Advisor to the Board, Bank of Finland, Finland JUKKA TOPI Financial Markets and Statistics Department, Bank of Finland, Finland