This implies that by prescribing the limits for the MSS, the Government was recognising the fiscal cost that it was ready to bear in the context of external sector management. Third, the related issue was whether the fiscal cost of sterilization should be borne by the central bank or by the Government.
We should strengthen our aim of promoting a common supervisory culture, which we have labelled a “one-team” approach. For that purpose, we should remove the boundaries between supervisors in their daily routines and interactions whenever we see them. Another issue we still need to work on in this respect is language.