Second, even if there are no technical obstacles, the challenge would be in addressing the moral hazards. Similarly, some of the principles would require changes in the legal and regulatory framework. Many jurisdictions are likely to face limitations while complying with requirements under segregation, portability, recovery and resolution, etc. In some of the jurisdictions, the Trade Repository (TR) may be a new concept.
While we continue to see challenges and risks arising from adverse global developments, we remain optimistic and confident that we can ride out this turbulence and sustain the economic gains achieved in recent years. Why do I say this?