Yves Mersch: Economic policy and the need for humility Speech by Mr Yves Mersch, Member of the Executive Board of the European Central Bank, at the Conference "Banking and Financial Regulation", Bocconi University, Milan, 9 October 2017. * * * “[…] five years from now the dynamic stochastic general equilibrium model that central bankers worship like Baal will still be there.
In the design of the Financial Markets Development Plan (FMDP), specific initiatives were included on information sharing and networking using a top down approach from regulators to the regulated entities. This will not only ensure integration of service delivery in the financial sector but will also result into a majority of the population accessing financial services and products.