To be sure, it is very doubtful that, absent the guarantee, European official partners would have countenanced the imposition of losses on senior bank creditors at any stage during 2008–11, so it is probably wrong to over-emphasise the guarantee: some form of guarantee or de facto cover would probably have been insisted upon.
The system also needs to address the integration issues of the legacy data in the centralised data server for a robust MIS. To test the accuracy of returns generated through ADF system around 3000 unique data elements covered in the returns already under XBRL process, Reserve Bank will forward to banks for generation of values for these elements from their ADF system.