Our vocabulary has been enriched by great many acronyms that were hardly heard of a year ago, such as ABS, CDO’s, SIV’s, ABCP’s and so on. We are just starting to form a picture of what this debacle means for policies. Eventually, the storm will pass, and we will draw some conclusions.
It is an urgent task to maintain financial stability and at the same time to prevent moral hazard risks. 8. Strengthening financial infrastructure. The market-oriented operational mechanism for payment services are not soundly established and payment and settlement management skills require further improvement.