  Close coordination with government agencies plays a fundamental role. In Bolivia, we thought hard about the true meaning of central bank independence. Central banks had to act immediately, pushed by governments. How do these relationships impact on institutions and their management?
Finally, the proposal would restrict the operations of GSIB holding companies (as distinct from their operating subsidiaries) so that those legal entities could go through a resolution proceeding without setting off short-term wholesale funding runs or otherwise jeopardizing financial stability. In May of this year, the Board issued another proposal to make GSIBs more resolvable.