Joint supervision of banks and resolution of insolvent institutions are both critical in this respect. The planning for a joint banking supervision, for the so-called single supervisory mechanism – or SSM for short – is taking shape.
Let me first convey the best wishes of the Cabinet Secretary, The National Treasury, Mr. Henry Rotich who was supposed to deliver the opening keynote speech today. Due to emerging exigencies, the Cabinet Secretary, The National Treasury has asked me to represent him this morning. Let me also thank the organisers of this conference Thompson Reuters and the Capital Markets Authority (CMA).