Building up capital buffers and meeting the Minimum Requirement for Own Funds and Eligible Liabilities (MREL) will be challenging in an environment of low bank profitability. If only for this reason, harmonization and transparency of resolution standards would help. *  *  *  To conclude, I will finish with the same thought that I started my speech.
None other than Sir Shridath Ramphal, a Caribbean luminary and the Distinguished Speaker at last year’s Eric Williams Memorial Lecture, emphatically notes that leadership in the region has „put the gears of the CARICOM Single Market in neutral and the gears of CARICOM Single Economy into reverse‟.