Mojmír Hampl: The trilemma of the banking sector Speech by Mr Mojmír Hampl, Vice Governor of the Czech National Bank, at the Czech National Bank and OMFIF Central Bank Meeting “Central banking in Central and Eastern Europe: Policy making, investment and low yields”, Prague, 7 June 2016. *  *  *  Ladies and gentleman, good morning, First of all let me express my gratitude for the kind invitation to speak at this event. My special thanks go to our departing Governor Miroslav Singer and to David Marsh for the energy – I would almost say nuclear energy – he constantly invests in the OMFIF and its events and publications, which has made the OMFIF what it is now. Reading the OMFIF daily commentary has become an almost indispensable part of my working day, I have to say. Looking at the impressive list of distinguished participants at today’s meeting, I intuitively started asking myself: what really unites us? What do we share regardless of whether we come from the east, west, north or south, or here from Prague for that matter? And I am pretty certain that from the financial or monetary point of view there is at least one important thing. In all our countries we have not only central banks, but also commercial banks operating in a system of elastic money, i.e. private banks as entities that also create money. And we all share the same desire.
As we all move forward to strengthen the global financial system, we stand ready to cooperate with African central banks, a critical component of which is building strong relationships of trust and understanding. Our participation in these meetings are an important part of furthering our partnership and we look forward to a more comprehensive and sustained engagement going forward. 2/2  BIS central bankers' speeches