The changes however, may vary across different countries depending upon the nature and level of sophistication of the respective financial markets. The new global standards are expected to enhance the resilience of the banking sector as a whole, while promoting financial stability in both developed and EMEs.
We are proud of our country and would like to take a longer-term perspective and try to think about payments over the next 100 years. As economists we, of course, understand that the longer the forecast term, the less accurate they are likely to be.