Our goal is to bequeath to this country a stable financial system that will oil the wheels of economic development on a sustainable basis. We count on your support for this noble cause. Thank you for listening. 12  BIS central bankers’ speeches  References Eichengreen, B and R. Porter (1987) “The Anatomy of Financial Crises” in Richard Portes and Alexander Swoboda, eds.
(ii) Competition from non-bank players in payment system: All along we have believed that banks would retain the privilege to serve as the sole payment service providers even while their other traditional functions like dispensing credit might have competition. Ground realities have changed. Payment system is no longer the sole preserve of banks. There is competition and how?