Conclusion  To sum up, I believe that we have made progress in several areas - strengthening the balance sheets of regulated financial entities through risk-weighted capital adequacy ratios; setting out a convergence path for asset classification norms with international standards; expanding the ambit of prudential norms to include monitoring exposures to credit risk, liquidity and interest rate risk; developing internal systems for risk management; enhancing transparency and market disclosure and thereby, accountability; improving management practices and corporate governance; and managing the pressures of structural changes in our financial system.
The Beijing office is, at this stage, small, purely representational, and is operated out of the Australian Embassy there, with the various protocols and controls associated with that. The staff there, who are bound by the Bank’s Code of Conduct, also received appropriate training from the Department of Foreign Affairs and Trade.