The work of pushing forward responsible financial inclusion is huge. And it is important that the pursuit of financial inclusion would not be to the detriment of other policy objectives. Hopefully, after today, we have more clarity in what we need to do as central bankers.
In early September, my colleagues and I on the oversight body of the Basel Committee on Banking Supervision (BCBS) met to review a comprehensive set of measures to strengthen the regulation, supervision, and risk management of the banking sector. We agreed on new standards for banking regulation and supervision, which should help reduce the probability and severity of economic and financial stress.