The legislation passed by the House, for example, would subject any firm whose failure could have serious systemic consequences to consolidated supervision, including minimum capital and liquidity requirements. Supervisory oversight is being reoriented in several notable ways. As I mentioned earlier, the crisis revealed the serious shortcomings in the risk-management systems of many large firms.
Overall, this inclusive digital finance ecosystem will support the diverse needs of all users in a safe, convenient and affordable manner. It would have the right mix and range of service providers (banks and non-banks alike) and digital platforms to facilitate the sustainable delivery of fit-for-purpose and affordable financial services, especially designed for the low income market.