Before the GFC, for advanced economies, the focus was on extending credit to those without assets. The G20 statement and subsequent follow-up actions by various multilateral institutions have to be viewed in this context. Financial inclusion was put on the G20 agenda in November 2008 and, in 2010, it became one of the pillars of the global development agenda.
So, we BIS central bankers’ speeches  3  now have the G20’s Financial Inclusion Action Plan and the Global Partnership for Financial Inclusion, apart from follow-up work by the IMF, World Bank and BIS, among others.