And for several years now, the Banque de France has been striving to improve the financial literacy of the general public, and particularly that of our younger generations. This has involved ongoing vocational teacher training in the framework of the 21 academic partnership agreements signed with the Ministry of Education thanks to our nationwide presence, as well as [slide 5] ambitious projects such as “Citéco”, the Cité de l’économie et de la monnaie. Citéco is an innovative and recreational museum dedicated to economics, money and finance, that will open its doors to the public at the end of 2018 in the newly renovated Hôtel Gaillard in the 17th arrondissement of Paris. 1/3  BIS central bankers' speeches  Therefore, the Banque de France plays the role of conductor of the French national strategy for financial education [slide 6], in order to mobilise and coordinate the activities of all stakeholders, be they associations, institutions or finance sector representatives. Through these partnerships, we can thus ensure that efforts are stepped up to raise awareness and train as many people as possible.
Andrew Bailey: The challenges in assessing capital requirements for banks Speech by Mr Andrew Bailey, Executive Director of the Bank of England, at the Bank of America Merrill Lynch conference, London, 6 November 2012. *  *  *  Thank you for inviting me to speak today. I want to talk about the challenges bank supervisors face in determining the appropriate approach to assessing the capital requirements for banks. Scarcely a new subject I know, but nonetheless one that is at the top of the agenda of regulators, both macro and microprudential. My starting point today is not whether banks are, or are not, adequately capitalised – I will come to that – but the framework by which supervisors assess capital needs, a subject that is attracting a great deal of attention. I will put my cards on the table at the start. I am not a believer that supervisors should rely on any single data point when assessing a given firm’s stability. We need to assess measures of capital, liquidity and leverage. The art of supervision is to look at a situation from several angles and seek thereby to identify weaknesses. Good supervision is about judgement. The psychologist and behavioural economist Daniel Kahneman has described good judgement as, “the product of a solid grasp of intuition coupled with empirical validation where possible”. There was too much box-ticking in the past, but I do not intend there to be in the future.