When the consumer is better informed, he benefits, economic efficiency is increased and economic policy implementation is made that much easier. That’s what financial education is about, ladies and gentlemen – to facilitate better economic decision-making and greater individual well-being.
The recently published CPMI-IOSCO report on the recovery of FMIs is not intended to create additional standards for CCPs or authorities beyond those set out in the PFMIs. Rather, the regulatory approach is non-prescriptive, and is aimed at providing guidance that should help FMIs to choose the appropriate mix of recovery tools.