*  *  *  Chairman of the Association of Banks in Fiji, Mr. Laurie Melsop; Invited Guests; Ladies and Gentleman: Introductory remarks A very good afternoon to you all. One of my visions after rejoining the Reserve Bank in 2000 was to modernize the payment system.
Nonetheless, the three-pronged approach of the US and European governments aimed at: (1) repairing damaged financial systems through capital infusion; (2) providing a liquidity lifeline; and (3) enhancing deposit insurance, appears to have some effect in terms of shoring up confidence. This has been evident in the recent improvements in the LIBOR-OIS and TED spreads.