Ladies and Gentlemen: Third, the CBK mandate of financial stability where the overarching goal is to promote existence of strong banks. Without strong banks, we cannot talk about long term and sustainable finance. In this regard, CBK has adopted a flexible risk management framework for the banking sector, which can accommodate, among other areas, the management of environmental and societal concerns.
And due to the higher interest rates, the assets SVB then had to sell to absorb this outflow of liquidity, mostly bonds, had lost value. No airbags, no seatbelts, and there went the first windshield. Of course, most of you already know all of this. But why did no one see it coming?