As is equally well known, with only Commonwealth Government Securities (CGS) and semi-government securities (semis) meeting the Basel criteria for HQLA in the domestic securities market, there will not be enough securities to enable ADIs to meet this liquidity standard. At the present time, ADIs own around $ billion of these securities.
*  *  *  It is a great pleasure to address this Banking Forum at this juncture as I believe that the economies are turning the corner and can now start enjoying the benefits of stability and growth within the framework of closer ties with the European Union.