And if we are presented with compelling evidence that a certain approach is flawed or inadequate, we will certainly consider making adjustments. Substantial work remains to be accomplished before Basel II can "go live." As you are aware, several areas in particular will require special efforts. Data collection and validation are examples.
Mr Macfarlane comments on monetary policy in Australia  Notes by Mr I J Macfarlane, Governor of the Reserve Bank of Australia, for a talk to Australian Business Economists on 11 November 1999. *  *  *  I will say a few words on monetary policy tonight, but they are not intended to be very profound.