Currently, it is coming into effect and should raise consumer protection. For the public, this will mean a simpler short procedure of dispute settlement with financial organisations. We realise that customers are often weak in disputes with financial organisations, but we are offering them protection. We continue to develop financial literacy programmes, which has also raised many questions. The regulator will not be able to effectively protect customers without providing information and education to the public. We are working together with the Ministry of Education. The financial literacy module has been included in the school curriculum (29,000 schools or roughly 70% of all secondary schools already have this module in their curriculum). We conduct online and offline workshops and lectures for the public, and we also offer special programmes for orphans and elderly people. We post advertising materials, including on public transport. Our regional branches are making a large contribution, which we find extremely important. I would like to conclude by saying a few words about financial inclusion. Many deputies are concerned about this issue and raise it at almost every parliamentary group meeting, because voters are concerned about it. The overall level of financial inclusion in the country is adequate and new technologies are developing faster in Russia than in many other countries. Certainly, they offer new opportunities to households and businesses. This is, certainly, an average indicator typical of big cities. In some regions, where there are many remote and thinly populated towns and rural areas, financial inclusion is low.

And second, we must ensure our institutions and markets are sources of strength for the global system. Fulfilling these dual responsibilities requires the highest standards of supervision and regulation, and a commitment to the most effective cooperation with other regulators. Let me take those in turn. III. The UK Targets a Level of Resilience Beyond Global Minimum Standards  As the FPC has repeatedly made clear, the UK financial system will require a post-Brexit level of resilience at least as great as that currently planned, which itself generally exceeds that required by international baseline standards. This imperative reflects the scale, complexity and importance of the UK financial system. This does not mean we are pursuing the stability of the graveyard. Rather, we are building the necessary resilience for our system as efficiently as possible by simultaneously implementing major structural reforms. Such “efficient resilience” allows the UK financial system to fulfil both its domestic imperatives and its international responsibilities. 7  See ‘The Promise of FinTech – Something New Under the Sun?’, speech by Mark Carney, 25 January 2017, available at http://www.bankofengland.co.uk/publications/Documents/speeches/2017/speech956.pdf. 5  All speeches are available online at www.bankofengland.co.uk/speeches  5  Efficient resilience is why our capital standards are simultaneously well above Basel minimum requirements and substantially below the levels that would be necessary if those banks could not be safely resolved if they got into trouble. 8  Efficient resilience is why we are ring-fencing the domestic banking services on which UK households and companies depend.