Jens Weidmann: United in diversity – on the responsibility of countries and regions in the monetary union Speech by Dr Jens Weidmann, President of the Deutsche Bundesbank and Chairman of the Board of Directors of the Bank for International Settlements, upon receiving the &quot;Medal for meritorious service to Bavaria in a united Europe&quot;, Frankfurt am Main, 5 December 2016.
We have been proactive in this field with the imposition of a 10% capital adequacy ratio on our financial institutions, instead of the Basel II standard of 8%. On the regional front within COMESA, we scored another success with the Regional Payment and Settlement System which will be run by the Bank of Mauritius and will be aggressively promoted by all participating central banks.