Naoyuki Shinohara noted that the international architecture to deal with some of the challenges discussed is still not in place as yet, and the expectations should recognize that. In the panel discussions, Governor Gudmundsson highlighted the importance of clarity on domains and tools and the difficulty of maintaining financial stability with flexible exchange rate movements.
2  BIS central bankers’ speeches  Governor Khatiwada underscored the need to consolidate the role of different regulators to achieve policy effectiveness of multiple goals, particularly in developing economies.