We indeed welcome change by banks. But this change is welcome so long as banks are able to demonstrate that risks are being appropriately and adequately managed. Our staff will make a presentation on cloud-based 3/4  BIS central bankers' speeches  services in this meeting. I look forward to some stimulating debates for our common benefit.
Ladies and Gentlemen, I am convinced that our agenda will stimulate exciting and constructive discussions. The presence of our partners from the IMF, World Bank and the FSB can only enrich the debate. Let me end by quoting Timothy Geithner, the 75 th US Secretary of the Treasury who served under President Barack Obama.