* * * Excellencies, Members of the Diplomatic Corps Mr James King, Africa and Middles East Editor for “The Banker” Fellow Bankers Distinguished guests Ladies and gentlemen  Good afternoon It’s an exceptional honour to have been selected for the 2017 Central Bank Governor of the Year Award for Africa by “The Banker” magazine. I am humbled to have received the award this afternoon.
A capital surcharge based on short-term wholesale funding levels would add an incentive for firms to use more stable funding and, where a firm concluded that higher levels of such funding were nonetheless economically sensible, the surcharge would increase the loss absorbency of the firm.