This will assist the Bank in fulfilling one of its new mandates, namely to carry out investigations and take measures to suppress illegal, dishonourable and improper practices, market abuse, and any potential breach of the banking laws. We made considerable progress with our plan to implement Basel III to enhance the resilience of the banking sector.
The opening shot was the release in October 2012 of a consultation paper on the likely implications of Basel III implementation. In June 2014, we issued guidelines on the scope of application of Basel III and eligible capital. Monetary policy Throughout 2013–14, the Key Repo Rate (KRR) was kept unchanged at 4.65 per cent.