The emphasis in this conference on bringing users of the payments system together with the providers of financial services demonstrates the importance of a balanced approach as we examine challenges for the payments system.
This, however, is subject to the stipulated prudential floors for the first three years of implementation to guard against any significant decline in the capital ratios of the banks arising from the capital relief that they might accrue to them under Basel II. The banks are, however, expected to operate at a level well above the minimum capital requirement.