*  *  *  Ladies and gentlemen Good morning This visit is my first to the Africa Training Institute of the IMF in Mauritius and I am pleased to address you on the concluding day of the course on Core Elements of Banking Supervision.
Thank you, Mr Ravi Mohan, Adviser to the AFRITAC, for giving me this opportunity to reflect briefly on a subject like regulation and supervision of banks that has increasingly occupied a centrally important seat in policy discussions in the past quarter of a century.