In the process, banks are becoming much less dependent on the analysis and subjective judgments of lending officers. Although such judgments in the end are indispensable to the lending process, a methodical, systematic, and quantitative review of facts--including the effects of material new exposures on the lender’s consolidated risk--provides a greater depth to risk management than we have had in decades past.
Yandraduth Googoolye: The importance of financial services to the economy and the need for good governance Speech by Mr Yandraduth Googoolye, Governor of the Bank of Mauritius, at the Celebration of the 125th anniversary of the Mauritius Civil Service Mutual Aid Association Ltd, Port Louis, 15 November 2018.