An important lesson from that experience is the centrality of a crisis communication strategy. Markets need certainty and assurance that competent authorities have the facts and means to resolve crises if and when they arise.
2  BIS Review 45/2004  At the Central Bank, the recently passed legislations explicitly state that the Governor is solely responsible for managing monetary policy and supervision of the financial system. We have in place a Board of Directors drawn from a cross-section of the community - comprising presentation from accountants, trade unions, churches, businesses, and prominent individuals.