In deciding on whether a banking licence will be granted to an applicant, an assessment is made of the institution’s business plan, shareholding structure, capital base, directors and senior management, internal controls and projected financial conditions. This evaluation of an application is not a mechanical process, but is in a sense abstract and subjective. Every application is regarded as unique.
The stakes are high enough to arouse a keen interest in these questions, while pursuing our primary mission. As regards monetary policy, the review of our strategy will be the ideal time to address these questions. Given the low or even negative interest rates, are savers right to be worried about their savings?