Upon the outbreak of the sovereign debt crisis, if not beforehand, it had become clear that this assumption was a fiction with no basis in reality. For that reason, there must be an end to the preferential regulatory treatment of government bonds. Giving banks an incentive to maximise their sovereign debt holdings instead of lending to the private sector is, after all, absurd.
When finalized, this product innovation is expected to improve access to banking for the unbanked as well as cost-effective services for low-income clients. We will not stop here, Director of Ceremonies, but will continue to look at other bank fees and charges that warrant further attention in line with the Payment System Vision 2015, launched some time ago.