But I believe that they are crucial to strengthening the stability of our financial system and to helping restore the public’s faith in its integrity. This problem is not just Wall Street’s concern; every household with a LIBOR-linked mortgage and every corporation with a LIBOR-linked loan has an interest in more robust U.S. dollar reference rates.
As part of the current programme, as you can see from our joint press release, we will cover a diverse range of topics that spans 11 areas of the National Bank of Serbia’s competencies. In 2008 and 2009 much of the work involved in preparing the needs analysis report was in the hands of EU central bank experts.