An inevitable component of that is what role the Reserve Bank should play, given that it has often stepped in, in one way or another, when a solely industry-based approach has not proved feasible. Conclusion What I’ve outlined today is a big agenda, and I expect it will keep us very busy in the time ahead.
This program had to be designed and implemented very carefully to assure its success, due to the following reasons:: (i) the re-capitalization program is likely to be costly; (ii) the recovery of the economy relies upon the recovery of the banking system, and thus on the re-capitalization program; (iii) the failure of the re-capitalization program would amount to the very costly delays to economic recovery.