We have communicated that we do not operate a no-failure regime (see Fiennes 2013), as well as explaining our responsibilities vis a vis the Minister of Finance and other institutions such as the Financial Markets Authority.
I suspect we have many communication challenges ahead to reach public understanding that the Reserve Bank’s regulatory and supervisory oversight does not represent a “no failure” regime, and that there are no guarantees that insolvencies and other forms of business failure will not occur. This extension in regulatory and supervisory responsibilities will demand new channels, new audiences and new messages. iv.