Most significantly, the rigor and internal consistency of internal risk-rating processes is often handicapped by insufficient or unclear rating criteria or by limited resources dedicated to independent reviews of risk-rating assignments. Last fall, the Basel Committee conducted an initial survey of large internationally active banks in order to estimate the quantitative effects of the proposal on their capital requirements.
Allow me to draw from the Seychelles experience to showcase the impact on the economy and measures taken to help bring back the livelihood of the population and revive the economy whilst maintaining price and overall financial stability.