Affordability, interoperability, and customer awareness and protection have also been other focus areas. Banks have been the traditional gateway to payment services. However, with the fast pace of technological changes, this domain is no longer the monopoly of banks. Non-bank entities are cooperating as well as competing with banks, either as technology service providers to banks or by directly providing retail electronic payment services.
In the next hour, we will examine the reasoning for macroprudential policy from an international perspective, from a financial stability perspective, and from a theoretical perspective. We hope this will establish common grounds for the discussions we will have the rest of the day.