The focus of my remarks today – the importance of fundamentals in risk management – should still resonate with all of you, whether you are part of a large global bank or a smaller community bank. Unfortunately, recent market events have shown us that banking institutions still face some risk management challenges, including a need to refocus on some key fundamentals.
These factors stood in strong opposition to withdrawing the accommodative monetary policy. 2  For the comparison of development phases in Japan and China, for instance, see Muto, Matsunaga, Ueyama, and Fukumoto (2010), “On the Recent Rise in China’s Real Estate Prices,” Bank of Japan Review Series, No. 10-E-3.