The Governor reviews events of the last six months on the international banking scene and notes:
- The most important and heartening aspect of the response to the recent debt problems has been the way borrowers, the IMF, governments, central banks and commercial banks have quickly and informally concerted arrangements for mobilising assistance.
- In responding to critical situations, changes have occurred in international banking practices: some will prove temporary responses; others offer lessons of lasting value.
International banking in turbulent times some lessons from recent experience - Governors speech