Summing up So far, I have suggested that the brute force of compositional change in population might be in the background of asset market bubbles and their subsequent bust, especially those which caused the global macroeconomic crisis of 2008 and after. To close this section, I would like to draw two observations from this exercise.
We will continue to monitor developments within the payments system to better understand their implications. As a policymaking body, we will continue to promote the integrity and safety of the payments system while also supporting improvements in efficiency and accessibility. We will facilitate private-sector efforts to improve the payments system through a combination of dialogue and leadership.