Incidentally, we want to make it absolutely clear that in the present conditions where systemic risk is seriously hampering the functioning of the economy, we see no stigma attached to the use of central banking credit provisions: our facilities are there to be used.
While standardisation does not mean that the same uniform systems are used across all banks, the bare minimum requirements to ensure inter-operability has to be provided for. With margins across different partners in business thinning, it is essential that banks take up Straight Through processing and Interoperability as key issues to be addressed in all their technological implementations.