We will also put in place appropriate measures to improve attractiveness of sub-national bonds to the banking sector. 6. We are also considering developing measures around counter-cyclical fiscal policies. For example, one proposal under consideration is whether to significantly expand the Excess Crude Account (ECA) into a fully-fledged stabilisation fund that effectively quarantines oil-related excess liquidity before it reaches the Nigerian banking system.
The analyses of the different authorities will need to be supplemented to arrive at truly uniform risk evaluations in the supervisory colleges of banking groups. Within the colleges for which we are responsible, we have vigorously promoted this integration.