This objective is a system objective and not something the Reserve Bank can achieve on its own. Achievement will rely on the buy-in and collective effort of industry, communities, regulators and government. For our part, we are looking closely at the role that both the forms of central bank money and central bank exchange settlement systems can play in supporting this objective.
Examples of failed businesses, such as the Medici Bank that collapsed in Italy in 1494, the failure of over a thousand savings and loans companies in the United States in the 1980s and 1990s, the failure of the Bank of Credit and Commerce International  2  in 1991, Barings Bank in 1995, and more recent banking failures in the U.S, the EU, and Nigeria, were all associated with poor corporate governance and a culture of weak regulatory compliance.