We need internationally consistent rules and standards to support sound international financial activity and mechanisms for supervisors to share information and coordinate supervision of large cross-border institutions. And we must better understand the systemic risks that never respect national borders, as we have repeatedly seen during the past 18 months.
As we explained in the relevant circular, these measures were instituted to curb undue speculation that was resulting in the volatility of the exchange rate. As indicated in our quarterly policy review earlier this week, we will roll back these measures only after we determine that stability has been restored to the foreign exchange market.