The region’s gross public debt climbed rapidly from 65 percent of GDP in 1998 to a peak of almost 100 percent of GDP in 2002, before falling to a still elevated 80 percent of GDP in 2012.
A higher CAR and appropriate liquidity do not on their own guarantee zero risk of failure. Best practices in corporate governance and good risk management practices are complementary actions favoured by the Regulator. Let me conclude with four remarks, which you may wish to reflect upon: The first remark is about the growing recognition that the “one-size-fits-all” regulatory framework may not be optimal.