And yet more new partners will join us between now and when the new ECB premises are complete. I am impressed to see how COOP HIMMELB(L)AU’s vision has become reality over the last two years of intensive construction works. It was by the time I became member of the ECB’s Executive Board that the high-rise structure began to rise above the buildings around it.
Introduction of such products, when found appropriate, would be guided by the risk management capabilities of the system. The Reserve Bank has also issued detailed guidelines on implementation of the Basel II framework covering all the three pillars with the guidelines on Pillar II being issued as recently as on March 27, 2008.