Indeed, prudential policy is always dictated by higher-order objectives. In your more focused request, you asked me what the impact is on us of the slowdown of the Chinese economy. My reply – So far, it’s been on the whole, benign. We’ve so far managed well but we are not immune should Chinese growth slow more steeply and financial market volatilities intensify further.
4  BIS central bankers’ speeches  I encourage the organizations here therefore to work as a community and create a thriving market that is premised on governance, transparency and risk management. I encourage you to join us in the pursuit of communal objectives (such as financial system stability and consumer protection).