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07 February 2012

BIS: Building a resilient financial system


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BISの総支配人であるジェイミー・カルアナ氏が2012年2月7日にマニラで開催された、2012年ADB金融セクター・フォーラム「金融の安定性の強化-問題と課題」において行った基調演説。


The uncertain global environment has prompted calls to reconsider or weaken financial reform. Mr Caruana argues that, on the contrary, the current uncertainty makes it all the more important for us to follow through on what we have set out to do. A number of broad principles guide this work:

  • financial stability is about resilience and should be prepared in advance;
  • preserving financial stability involves a wide range of policy areas;
  • a globalised financial system requires global rules;
  • focus should stay on the end result to be achieved, namely a system characterised by less leverage, better liquidity management, sounder incentives, less moral hazard, stronger oversight, and more transparency.

With these broad goals in mind, appropriate timetables can be prepared, and there is need to monitor implementation for unintended consequences. The key challenges in carrying forward this agenda are:

  • implementing what has been agreed, especially with regard to bank capital;
  • designing the right transition given a still weak recovery;
  • completing the regulatory reform agenda, notably in the areas of liquidity standards, resolution regimes, OTC derivatives, and the shadow banking system;
  • ensuring sound micro- and macro-prudential oversight.

Full speech



© BIS - Bank for International Settlements


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