On the one hand, the final speaker faces the problem that everything has already been said. On the other hand, it is a feature of human nature to remember best what one heard last. I will try to exploit the latter by widening the perspective and commenting on a few overarching issues. 2.
An example is the supervisory validation and supervisor intervention proposals in the Basel Committee’s June 1999 consultative paper on a new Capital Accord. If these proposals were implemented in New Zealand, they could considerably weaken market incentives and distort the behaviour of bank directors and managers.