All jurisdictions must ensure strong supervision and oversight. Scrupulous international assessment must ensure equivalent implementation of these new higher standards. Furthermore, we must agree on and implement a perimeter of regulation and oversight that encompasses all systemically important financial institutions, markets and instruments.
The resolve the Latvian government showed in securing the joining of the euro has set a shining example in that regard – an example that reminds us of the collective efforts more than 750 years ago, and an example that can serve as a lodestar for the challenges of today. Thank you for your attention. 6  BIS central bankers’ speeches