I expect, for example, to see work forthcoming on liquidity risk management, concentration risk management, stress testing, governance of the risk-control framework, and management information systems. Off-balance-sheet vehicles have been singled out for attention because of the pressures they have put on financial firms' capital and liquidity during the current episode.
As an inflation-targeting central bank, we allow foreign exchange flexibility so that we can conduct independent monetary policy primarily focused on assessment of domestic conditions, and is thus not based on actions of the Fed. Nevertheless, we consider external factors and exchange rate movements if these will materially impact the pursuit of domestic objectives especially inflation.