As experience is gained, we might later extend the framework in an appropriate manner to other SIFIs, including financial institutions of domestic relevance, financial market infrastructures, insurance companies and other non-bank financial institutions. Central to the FSB concept are systemic capital surcharges for SIFIs that go well beyond the requirements mandatory under Basel III.
This occasion was organised to pay special tribute to Mr Peter Allum as he prepares to return to Washington. As you may be aware the Bank of Uganda has had the privilege of working very closely with him over the last three years or so.