delisle worrell : general financial sector issues and policies opening remarks by dr delisle worrell, governor of the central bank of barbados, at the financial institutions conference “ general financial sector issues and policies ”, bridgetown, 3 november 2011. * * * this is our second annual conference for all financial institutions. we have a full day of discussion, which allows us to study current issues of the financial sector in depth. with the participation of all financial institutions, and with the collaboration of the financial services commission, we are able to take a comprehensive view of the financial system, including banks, finance companies, insurance, pensions, mutual funds, credit unions and securities. this conference deals with financial institutions that do domestic business ; in march this year we held a conference for financial institutions in our international financial centre, and that is also intended to be an annual event. since last year we have taken important steps to further strengthen financial oversight, and to increase the efficiency of the delivery of financial services. the most important of these was the establishment of the fsc, with responsibility for the supervision of non deposit takers. the fsc is in the process of recruiting staff and setting up systems, and central bank is lending its expertise wherever we can be helpful. this morning you will hear more about its activities from the fsc themselves. we have also been strengthening cooperation with banks which have domestic retail operations, through regular quarterly meetings, as well as ad hoc meetings when we need to make policy changes, such as the change in our foreign exchange margins. we are constantly strengthening cooperation with canadian and other overseas regulators, with the bank of canada and with the head offices of banks operating in barbados. we do consolidated supervision of all the operations of multinational banks, together with the regulators of all the countries in which these banks operate, through a variety of channels and mechanisms, including collective overview by the regulators and discussion with the banks in meetings which have come to be known as “ colleges ”. regulators also arrange conference calls and have informal contact, as well as more formal arrangements such as information - sharing memoranda of understanding. two weeks ago i led a team of my colleagues on a most successful visit to toronto and ottawa, where we had discussions with the major canadian banks, including those active in our international financial centre, with the office of supervisor of financial institutions ( osfi ), the bank of canada and the financial institutions supervisory committee, which also includes their deposit insurance corporation, their consumer protection agency and

thomas jordan : the significance of academic research and teaching for the swiss model for success summary of a speech by mr thomas jordan, chairman of the governing board of the swiss national bank, at the dies academicus, university of bern, bern, 1 december 2018. * * * the complete speech can be found in german on the swiss national bank's website ( www. snb. ch ). the success of switzerland in recent decades has largely been driven by the strong performance of its education system, which is crucial for economic prosperity, social cohesion and equality of opportunity overall. the swiss national bank ( snb ), too, sets great store by a good education system, including universities that can hold their own against international competition. many of the staff recruited by the snb are destined for roles in which a university degree is a prerequisite. in addition, the snb maintains close ties with the academic world, so that the latest related research findings can be incorporated into monetary policy decision - making. the competition of ideas stimulates and creates incentives for higher - quality monetary policy. this pursuit of excellence in academic education should not just be aimed at research, however ; it should also target teaching. experience has shown that foundation courses have a lasting effect on students'attitudes to certain topics. teaching lays the basis for subsequent academic specialisation and career choice. as role models, professors carry a heavy responsibility. many senior managers and specialists view their student days as a pivotal time in their lives, so the quality of teaching has a major impact on both economy and administration. universities make a direct contribution to a country's prosperity by maintaining the necessary capabilities and developing and imparting knowledge that is useful for the economy and society. but their indirect contribution is just as important : universities must enable their graduates to understand and appreciate the significance of the swiss model for success. this model is based on the pillars of direct democracy, the rule of law, federalism and an awareness of the value of stable institutions. the terms'markets'and'competition'are key to understanding basic economic relationships, and are fundamental to ensuring prosperity, as well as to acquiring and applying new scientific knowledge. one of the tasks of a university is to provide its graduates and the general public with a realistic picture of the functioning and importance of markets and competition. only in this way can the swiss model for success endure in a world of constant change. 1 / 1 bis central bankers'speeches