The core focus of our strategy is to improve the banking industry and financial services generally to bring them in line with best international standards and make them internationally competitive. The launch of the MPC is a part of the re-engineering process of the central bank.
Large banking groups have been created from a growing number of cross-border bank mergers. Today, many banking groups have major operations in multiple jurisdictions, where they can pose systemic risk to a host banking system. At the same time, over the last decade, EU legislation has been growing dramatically in scope and coverage for many areas and segments of financial markets.