He Impact of Today's Technology on Banking

I am greatly honored to be hither as Chairman of the Basel Committee on Banking Supervision. Id like to begin by thanking the Swiss National Bank, Kurt Hauri and the Swiss Federal Banking Commission, and Andrew Crockett and the BIS for organizing and hosting this important group. Theyve done a wonderful job, for which I know were all really grateful. It is also a great pleasure to be with you under such dramatically different circumstances than when we last gathered together. Just 2 years ago, turbulence in the financial markets around the gentlemans gentleman had affected, in one way or another, the banking systems of virtually all(prenominal) nation, and bank supervisors were struggling to preserve confidence and stability. Today, of course, the global financial situation is much more stable and the outlook is very favorable. In the United States, we continue to sleep with the longest scotch expansion in our nations history, and, following personation of financial modernization legislation, banks and other financial institutions now enjoy unprecedented strategic opportunities. In Europe, following monetary amount in January of 1999, the banking industry, along with other corporate sectors, is becoming more efficient and competitive as economic and political reforms moderate sharpened the focus on shareholder value.

In Asia, and in many emerging market economies, meaningful headway has been do toward recapitalizing banking systems, ridding banks balance sheets of problem assets, and improving supervisory and regulatory frameworks. As a result, economies are growing again, equity markets have rebounded, and strange capital has begun to return. What a difference two years of terrible work can make. When I last addressed this conference in October of 1998, I said that bank supervisors have a special character in maintaining financial stability, and that our special role has two components: facilitating the resolution of problems when they occur, and taking the necessary steps to lower... If you unavoidableness to get a full essay, order it on our website: Orderessay

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