We should never neglect the importance of basic individual level of understanding financial issues, knowledge on how to appropriately manage one’s budget and personal/households’ wealth. This is important in the short and medium but especially in the long term, and has become an essential asset for financial stability. Greed needs to be contained by understanding.
Your conference theme this year, “Supervision in a Digital Era” is timely, and the panels you have planned on these topics can inform the supervisory responses that all our governments are weighing. The rapid changes transforming the financial landscape mean we can’t rely on the past for answers. The FSB is committed to a forward-looking agenda to address new vulnerabilities and new challenges.