In Asia - as elsewhere - it has become apparent instead that one of the root causes was the insufficient soundness and robustness of the financial sector. The work of the committees in Basle and the efforts of the Fund have laid the basis for appropriate rules and appropriate supervision. The key need now is to translate that into action.
For this reason, banks should be required to disclose to the public information regarding their activities and BIS Review 107/1998  -3-  financial position that is comprehensive and not misleading.