services ; and key third party contracts. • finally, firms should have inventories of key legal information, including legal entity types, purpose and relevant licenses, physical location, regulator, senior management and directors ; and applicable resolution regime and authority, as well as sufficient information on legal agreements, such as parties to the agreements, key terms of agreements, and any relevant interdependencies. arrangements for shared or outsourced services • the final area for additional work is ensuring robust arrangements for the continued provision of shared or outsourced services needed to maintain operations. • firms should understand and have sufficient information available on its internal and external dependencies, including continuity or replacement strategies for each service, as well as contingency arrangements in place to retrain or replace personnel or services needed to maintain operations. • while there are many areas that supervisors / regulators and legislators need to continue to work on to make cross - border resolution a reality, these five areas are ones that we have highlighted for near - term focus by firms. • and just a note for firms in the next tiers, including the wave two and three filers – as i know that concerns have been raised about the depth and breadth of work required – particularly for the “ non - systemically important ” foreign banking organizations ( fbos ) : bis central bankers ’ speeches – 2. as we ’ ve indicated in our discussions, our reviews of your plans, which we are conducting jointly with the fdic, will be a learning experience for us – as much as it is for you. we are viewing this process as iterative – as it has been for the first wave filers, and we expect to learn quite a bit through the reviews, including much more about your u. s. operations, that will help us and you ensure a robust planning process that works for each firm. challenges of coordination turning now to the second area where i think more work needs to be done – coordinating the supervision and oversight of the large systemically important institutions. while the crisis has provided a great opportunity to enhance our dialogue across supervisory boundaries, there are still impediments to realizing a more seamless and coordinated approach. among the impediments are the challenges in information sharing, where there continue to be barriers to freely sharing information among supervisors. while some of these impediments are cultural – or trust - related – ones, there are still legal barriers to sharing information that need to be addressed. we need to address the legal

per cent in june 2021 to 81. 9 per cent in march 2023. the honourable minister of finance here present opted to adopt a prudent fiscal stance. 2 / 3 bis - central bankers'speeches given the growing importance of sustainable finance in recent years, a number of initiatives have been taken by both the public and the private sectors in mauritius. a technical team comprising representatives from the ministry of finance, economic planning and development and the bank of mauritius is currently working on the environmental, social and governance framework. in june 2021, the bank of mauritius published a'guide for the issue of sustainable bonds in mauritius ', that lays down the foundation for the issuance of green, blue, social, climate and sustainability bonds in mauritius. in december 2021, the fsc released its'guidelines for the issue of corporate and green bonds in mauritius ". in january 2022, a non - bank financial institution became the first mauritian company to issue green bonds and plans to raise rs3 billion over next five years. in february 2023, the same organisation announced the creation of a new rs9 billion medium - term note programme. significant strides have been made on the global front. during the 3rd g20 finance ministers and central bank governors meeting held in gujrat, india, just one week ago, finance ministers and central bank chiefs opened talks on debt restructuring deals, multilateral bank reform and finance, to tackle climate change. the aim was to steer the global economy towards strong, sustainable, balanced and inclusive growth. for the group of g20, addressing debt vulnerabilities in lower and middle - income countries, in an effective and comprehensive manner, is a priority. accordingly, it has tasked the international financial architecture working group to develop a g20 note on actions to be taken to enhance financing for sustainable development goals, in line with the g20 sustainable finance roadmap, with due consideration to country specificities. as fixed - income markets recover, a more selective approach to bond buying is likely to favour sustainable bonds. there is already a strong demand from investors and rising expectations for governments and organizations to deliver on their esg commitments. i have no doubt that the discussions over the next couple of days will be enriching, with some key take - aways for each of us. climbing the debt - transparency ladder requires sound legal and debt - management practices. a sustainable world means working together to create prosperity for all. ladies and gentlemen, i wish you all well.