A second symptom of the impending US hiking cycle is that it has seen the dollar strengthen substantially against most other currencies since mid-2014. This has been driven by a flow of capital into  BIS central bankers’ speeches  1  the US and, to some extent, out of emerging markets.
Thirdly, all risks affecting the bank should be addressed by policy, (not just major and traditional financial risks) so that no single risk is over looked. Some of you will recall that one of the major findings of the RBS survey which the Reserve Bank conducted back in 2007 was apparent neglect of non financial risks.