Remarks of Nout Wellink, Chairman of the Basel Committee on Banking Supervision and President of De Nederlandsche Bank at the 16th International Conference of Banking Supervisors, Singapore, 22 September 2010.
Good morning and welcome to the 2010 International Conference of Banking Supervisors. I will start by thanking our host – the Monetary Authority of Singapore. I would like to thank in particular MAS Managing Director Heng Swee Keat and his deputy, Teo Swee Lian, and the staff of MAS for doing a marvellous job of organising and hosting this ICBS.
It has been two short years since we last met in Brussels at the 2008 ICBS. In my opening remarks at that conference, I used the occurrence of storms and the need to build strong dikes as metaphors for the financial crisis and the need for a strong supervisory response. This morning I will reflect on our response to the recent financial storm, which is designed to protect against future crises.
The views expressed here are my own and not necessarily those of the BIS or its member institutions.