The service centre or hub notion has been bandied around for years: indeed we have so many hubs thrown at us that I am beginning to lose count of the number of wheels on the wagon. The other two are vital ingredients which we largely lack: innovation and excellence.
Given strong oversight from the bank’s board, the CVC and CAG would get involved only in extraordinary situations where there is evidence of malfeasance, and not when legitimate business judgment has gone wrong. 6  BIS central bankers’ speeches  I have focused on the challenges public sector banks face meeting the new competitive environment, as well as some possible solutions.