Salaried classes have also begun to leverage their incomes by receiving personal loans the installments of which are deducted from their monthly pay checks. At least another half a million families have availed of these loans.
Work can be done to improve joint understanding of emerging risks in the banking sector, to exchange information on standards and best practices on new or increasingly relevant topics, and to work on a minimum convergence of supervisory practices. And if I am informed correctly, many of the topics I will mention can be found in the 2019 work programme of the BCBS.