6/7  BIS central bankers' speeches  I have tried to offer an honest, heartfelt and engaging message, which is true to both the spirit and the contents that drive the message. The devil is so entirely in the details, nuance and caveats that the message sometimes tends to get lost. I sense that all too often, the message gets trivialized, too.
But the same engineers can create cash instruments that appear simple and traditional, but may have greater risk than many instruments labeled “derivative.” Indeed, placing financial instruments in regulatory or accounting pigeonholes without regard to their true risks and economic functions can create disincentives for prudent risk management.