In this vein, the warning from former Chairman of the Federal Reserve Alan Greenspan is almost legendary: “If I seem unduly clear to you, you must have misunderstood what I said.” And it was not without reason that a book about the Federal Reserve, which topped US bestseller lists 30 years ago, was titled Secrets of the Temple.
From the financial stability perspective, it is necessary to have a financial system in which orderly functioning of financial markets is ensured coupled with sound, competitive and efficient financial institutions nurtured by prudential policies and practices.