In addition, banking institutions and their staff need to reflect, in their public relations, the highest standards of security, communication and transparency, care and support so that this relationship of trust and confidence becomes a characteristic of mutual developments. The supervisory regulatory framework is being completed with a view to take these developments even further.   Banking supervisors, in turn, need to pay more attention to examinations and reports they prepare, integrity and behaviour that characterises the work of each bank.   Another great lesson we may draw from the crisis is to avoid at any cost huge concentrations and dependency on short-term financial funds. A top priority remains the adoption of prudent practices on risk management.   Composition and capacities of banks managing structures is another challenge for the banking industry in the future. The last crisis showed that in many cases, board members represented only short-term interests of shareholders, at the expense of other interests of the group. Likewise, their expertise and knowledge should be closely connected to specific activities of the bank.   The market and innovation move faster than the supervisor does. Therefore, any innovation or new banking product, prior to being marketed, needs to be tested responsibly, assessing carefully all potential accompanying risks. In a more national context, it is necessary and actually completely possible for the banking sector to accelerate the process of crediting revitalisation, a development that supports not only the economy and the clients, but also the banks.

The main responsibilities of the Central Bank includes the formulation and implementation of monetary policy, ensuring the soundness and stability of the banking system, and finally ensuring the integrity and reliability of the payments systems. In all these areas, the actions of the Central Bank have direct implications on the business community and the public at large. The ultimate aim of the policies are to make the economy strong, and to ensure the health of the financial system that is vital to supporting the economic growth and development process. Knowledge of what the Central Bank does and the reasons for its actions are essential for the efficient functioning of the financial markets and the effectiveness of the policy initiatives. In all these areas, the behavior of businesses and consumers at large are important in determining the final outcome. Having the knowledge and understanding of the issues would better equip consumers to manage their financial matters and to make well informed decisions regarding their own finances. In addition, it would also contribute to the soundness of the banking system and the efficiency of the payments system. In this current environment, the issue of financial literacy from these perspectives has become more urgent, particularly in the emerging market economies of Asia, where household consumption is becoming an important driver of growth. The expanding cumulative domestic market in Asia is becoming massive, a factor that has been important in facilitating intra-Asian trade and thus driving the economic integration of the Asian region.