It is a pleasure for me to announce here that I am delighted to accept this invitation to cooperate in this issue of common interest. Countries are also very interested in finding ways to further strengthen their financial systems, to the point that many of them would like to have the opportunity to participate more actively in the development of new ideas and standards.
As you can imagine, more participation in the elaboration process would greatly facilitate the productive discussion of the implementation issues of the Forum’s international standards that I have just mentioned. This issue of participation is critical in the case of reform of the credit risk capital rules to ensure that it addresses the needs of all global market participants.