I am pleased to inform you that this EFLC is just the first of a series; our plan is to set up EFLC’s at Bangko Sentral’s regional offices and branches. This is to provide equal opportunity for our people in the countryside equal access to our material and resources.
A fragmented regulatory framework makes it difficult for the ECB to meet these requirements. In extreme cases, we are faced with 19 different legislations. And in many cases, we indeed have to judge similar situations in a dissimilar way. Taking decisions under such  2  BIS central bankers’ speeches  circumstances is complicated and time-consuming.