And yet, looking ahead, the prospects for sustaining the expansion are quite favorable. The flexibility of our market system and the vibrancy of our private sector remain examples for the whole world to emulate. We will endeavor to do our part by continuing to foster a monetary framework under which our citizens can prosper to the fullest possible extent. BIS Review 34/1997
Obviously, this is only a starting point and managers of financial institutions and supervisors need to keep their eyes and ears open for new developments in the financial system. Both need to ensure that the institutions they manage or supervise comply with the rules but, equally importantly, they need to examine what is going on in the system as a whole.