These principles are: (1) identifying risks, (2) preventing rising deficits, but should these occur, (3) applying a customised approach to the resolution of the problems, effected as soon as possible. These principles form the foundations of the Financial Assessment Framework. The Framework does not prescribe the substance of pension arrangements; that is the province of the social partners.
The FSB has been monitoring the shadow banking sector closely for the past five years and publishing its monitoring report. I will like to highlight some of the key findings from its latest report, as they will provide a worthwhile background setting for your deliberations today. 3.