Weighted using shares in 2012 nominal GDP. Chart 8: Euro area core/periphery output growth Periphery Core  Percentage changes on a year earlier 6 4 2 0 -2 -4 -6  1998 2000 2002 2004 2006 2008 2010 2012  -8  Sources: Eurostat and Bank calculations. Notes: Based on data for Vulnerable Euro Area Periphery economies (VEAPS) (Ireland, Portugal, Spain, Greece, Italy) and core (all other EA countries excluding Malta). Data up to 2013Q3. 16  BIS central bankers’ speeches  Chart 9: Scottish mortgage loans as a share of the UK total 12% 10% 8% 6% 4% 2%  2005  2007  2009  2011  2013  0%  Source CML. Note: Number of Scottish regulated mortgage loans as a share of the UK total. Table 4: Banking sector size as multiple of GDP(a)  2012 Scotland  12.5  rUK  4.3 2007  Ireland  7.1 (b)  Iceland  7.4  Cyprus  6.6  Spain  3.2  UK(c)  5.1  (d)  1.2  US  Sources: Bank of England, ECB, Central Bank of Iceland, Datastream, Federal Reserve and Bank of England calculations. (a) Banking assets of euro area countries are recorded in the country where the parent entity is domiciled and includes all EU assets. Assets reflect gross derivative positions. (b) Iceland data reflects net derivative positions and includes resident banks’ domestic and foreign assets. (c) 2012 UK data taken from the HMT’s 'Scotland analysis: Financial services and banking', for methodology see https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/206166/banking_assets_vs_gdp_explanatio n.pdf.

The financial inclusion mandate of the Bank is further reinforced by The Financial Sector Blueprint 2011–2020, which charts the future development of the Malaysian financial system. It details the Bank’s holistic approach toward achieving greater financial inclusion. An important evolution in the advancement of our financial inclusion strategies is the increasing focus on data and measurement. Success can only be celebrated if it is proven by visible developments that is felt on the ground. Hence, one of the cornerstone recommendations under the Financial Sector Blueprint is the development of a Financial Inclusion Index, a framework to measure accessibility to financial services as well as its  BIS central bankers’ speeches  1  usage and quality. Our performance on this agenda has therefore been measured, consistent with our drive for accountability and excellence. Further policy initiatives have included the introduction of agent banking which has enabled 99% of Malaysians today to enjoy convenient access to safe, reliable and affordable financial services. International efforts to enhance financial inclusion measurement Internationally, there is an emerging common understanding that measurement is an essential policy tool for implementation. In this regard, the Alliance for Financial Inclusion, a network of central banks and financial regulators from 96 countries, has provided an important platform in advancing the global agenda of financial inclusion measurement. With the Sasana Accord, which was agreed upon in 2013 during the Global Policy Forum held here in Sasana Kijang, AFI members underscored the importance of measuring the progress of financial inclusion using a common set of measurable indicators.