The 2023 Annual Review, "Remaining resilient in turbulent times – steps taken towards competitive capital markets", summarises AFME's work over the past year. Capital markets have continued to evolve in a turbulent economic and geopolitical environment this past year. Rapid reversals of conditions manifested in some stress events in the banking system. Nevertheless, capital markets have demonstrated resilience. AFME's efforts have been dedicated to reinforcing capital markets, ensuring their ability to bolster the real economy and serve the diverse needs of stakeholders, including investors and savers.