But what heretofore unconceived event will they be vulnerable to in the future? The answer, of course, is that is impossible to tell. So an important part of the solution from a regulatory point of view is to make the system as robust as possible to such events. Obviously one cannot make the system impregnable, nor would it be optimal to do so.
As well as the other members of the Monetary Board during his term friends, Governor Paeng could not be with us tonight but let us applaud him and his MB members as a way of saying thank you for their unwavering commitment to initiate necessary reforms in our financial sector.