It is recognized globally that real-time gross settlement is appropriate for large fund settlements like interbank transactions since it reduces systemic risk, in which a chain reaction of defaults arises. There have recently been discussions in the securities industry that the settlement period between contract and delivery should be shortened for transactions in equities and government securities.
To build a strong financial system that is flexible in the face of global competition and innovation; in particular, we will continue to ensure that the banking system is adequately capitalized, well-governed, profitable and efficiently managing its risks. Let me end by answering the question, can the country’s economic gains be sustained? The answer is YES. Our macroeconomic fundamentals are sound.