The development of full service financial organizations only reinforces the imperatives to do so. When designing a system that maintains bank safety and soundness and constrains extension of the safety net, organizational structure is not irrelevant. Here again it seems prudent that we should be cautious, and build on structures that have proven their worth.
I am confident that a proper balance can be achieved between our sometimes conflicting and always complex goals. Indeed, I look forward to trying to contribute to the ongoing discussion and resolution of the challenges of financial modernization. Thank you. BIS Review 40/1997