APRA for example has a well-articulated framework for calibrating its standards and its intensity of supervision according to the circumstances of each institution.5 But in my view the international efforts on SIFI regulation need to focus firmly on systemic importance at the world level, and that means focusing on the small number of very large players that can have a global impact if they fail.
L Wilson Kamit: Difficulties, risks and opportunities for Papua New Guinea Address by Mr L Wilson Kamit, CBE, Governor of the Bank of Papua New Guinea, to the Fifth Annual Report Meeting of Papua New Guinea Sustainable Development Program Limited, Port Moresby, 25 May 2007.