N or New technologies that must be adapted to provide innovative financial products and services, and lastly G or Governance standards, which must be continuously strengthened, reinforcing sound culture and conduct of supervised financial institutions. All that said, I hope MAP can also use these same principles in promoting management excellence in your respective organizations. 3/3  BIS central bankers' speeches
This is a vision for the future and it will require much work to implement. But new members can be encouraged that the process is underway, in particular on banking union. On this note, I welcome the vote today by the European Parliament on the new European supervisor, the Single Supervisory Mechanism (SSM).