On this note, I am happy to report that one rural bank is already pilot-testing a cloud-based banking solution in managing its day-to-day operation more effectively and serving its clients more efficiently, thereby upgrading its competitiveness. Meanwhile, several banks, including rural banks, and non-bank financial institutions are already utilizing the Lendr platform to facilitate credit origination processes.
Some of these tools, including the system of reserve asset ratios that applied to the trading banks in New Zealand, ultimately proved quite ineffective and led to the re-routing of financial activities outside of the banking system. So history reminds us of the need for caution. Above all, macro-prudential policy should not be viewed as a panacea for macro-economic imbalances.