Our new risk system will help us track progress on mitigation and we will continue to work to make sure that all our risk mitigation actions are outcome focused and result in problems being sorted out rather than simply analysed further.
This to me is a very big point from the crisis: if you identify a risk you must make sure that your mitigation is strong and conclusive enough. 6  BIS central bankers’ speeches  The PRISM framework will be rolled out to parts of our banking and insurance supervisory departments at the end of this year and then more widely next year.