Unlike current account convertibility, capital account convertibility does not come without a downside. But before we discuss the downside it will be in order to point out that reservations have been expressed about the most important contribution of capital account convertibility, that is, its role in better allocation of global savings.
The Liquidity Coverage ratio stands at 250.6 per cent as at end-March 2021, well above the required level of 100 per cent. Ladies and gentlemen, what matters most, and especially for our CEOs of banks, is the fact that the banking sector continues to be profitable. Profitability enables banks to continue building buffers. Stress tests conducted by the Bank confirm that banks remain resilient.