Where there are tradeoffs, these should go in the direction of giving banks the time to reach the new standards instead of watering down the standards themselves. Failure to put in place high quality standards for the long term simply sets the system up for another banking crisis down the road.
We are indeed privileged to be in the midst of future governors and deputy governors of the SARB. I am certain that you will all join me as I say: ‘well done’ to all the participants. They are all worthy finalists and deserve a round of applause.