6  See U.S. Securities and Exchange Commission (1971), Study of Unsafe and Unsound Practices of Brokers and Dealers: Report and Recommendations (Pursuant to section 11 (h) of the Securities Investor Protection Act of 1970) (Washington: Government Printing Office), pp. 13–14. 2  BIS central bankers’ speeches  These risks clearly needed to be addressed.
In addition, the minimum amount at the auction was increased from K100,000 to K500,000. Recent media commentaries have suggested that the Central Bank’s actions are adversely affecting small investors. However, these actions are consistent with the Bank’s objective of price stability and aim to encourage the development of the secondary market for Government securities, thereby promoting a vibrant financial market and system.