7 As a result, I think that this may then accelerate a virtuous cycle that bolsters the potential strength of the economy and the effectiveness of the policy measures. The economic recovery in Japan seems to have strengthened its sustainability, as corporate profits have been on an improving trend and potential strength has heightened further through the implementation of the measures in 2013.
In the African Region, Standard Chartered Bank has a strong foot print and its existence in the region raises important aspects of cross border banking relationships between home and host regulators. One important aspect I wish to highlight is the resolution of cross border banking entities.