BIS Review 14/2009  3  A third general issue is that the sheer interconnectedness of all of the major institutions and markets makes the framing of particular policy interventions aimed at fostering stability much more difficult. Because every linkage cannot possibly be known beforehand, the effect of any particular measure is almost impossible to predict with much accuracy.
In this regard, the Central Bank has, in consultation with the Kenya Bankers Association, prepared relevant regulations, which will soon be gazetted in order to provide a framework for the licensing and operation of credit reference bureaus under the Banking Act. We will expect banks to make effective use of this mechanism as a credit analysis tool before extending any credit. 8.