I would like to dispel the notion that this indirect approach is a light approach. In particular, for supervisors to be able to judge the adequacy of firms’ risk management processes and to induce more conservatism where this is needed, they must establish – continuously – where the frontier in terms of risk management practices is.
Considering that we've come up with this process of innovation after a series of discussions and careful considerations, I hope that all of our staff here will see tangible outcomes from it, as we actively participate in improving the organizational culture and in bringing innovation to our internal management processes.