One of his milestone achievements was undoubtedly the preparation of a memorandum of understanding formalising close cooperation between the Banco Central do Brasil and the Bundesbank with respect to knowledge transfer and education and training opportunities for staff members.
The greater reliance on going concern capital instruments, the higher overall risk-ratios, the counter-cyclical mechanisms and the more restrictive definitions of capital all move in the direction of better absorption of credit risk and other risks relating to asset values.