The effects of such policy, especially in a situation where serious problems exist in the financial sector, should be assessed empirically but we have not accumulated sufficient experience and data to draw concrete conclusions. At the same time, this does not mean that we have no clues.
This committee was set up to steer the development of the financial sector and to ensure that the sector maximizes its contribution to the economy. The FMDC coordinates reforms across the banking, capital markets, insurance and pensions sectors.