The Governor, reviewing progress and prospects on international financial matters, makes the following points:
- the authorities' resolve to conquer inflation remains unchanged notwithstanding recent gyrations in the money and foreign exchange markets;
- solid progress has been achieved on international debt problems, although risks undoubtedly remain;
- new risks in international business need to be recognised in relation to emerging forms of lending;
- new structures in the provision of financial services will also bring new risks and problems, which supervisors will need to confront;
- efforts must be maintained to improve the capital strength of banks and other providers of financial services.
Taking stock on issues facing the banking community - Governors speech