Strengthening the governance of the Basel Committee was crucial to enhance the Committee’s ability to carry out its core mission of improving global supervisory practices and standards. Its new governance is expected to also contribute to the effective implementation of reforms, including in major emerging countries. What exactly is your role in the Basel Committee?
I have the honour of chairing the oversight body of the Basel Committee. We have extended the membership to supervisory authorities and central banks of 27 countries. In September, we met in the new composition for the first time. This was, indeed, a very important and, I must say, challenging meeting given the issues at stake.