kwesi bekoe amissah - arthur : risk management in well - capitalized banks speech by dr kwesi bekoe amissah - arthur, governor of the bank of ghana, at the launch of the pricewaterhousecoopers ghana banking survey, accra, 10 june 2010. * * * country director and staff of pricewaterhouse coopers ( pwc ), chief executives of banks, invited guests, ladies and gentlemen it is a pleasure to be part of the launch of the 2009 banking survey. the publication of the survey is valuable and contributes to the process of providing a better appreciation of developments in our banking institutions. pwc deserves commendation for producing this document consistently over the last ten years. i am told that investors have found it a useful source of information for making investment decisions ; and in deciding which banks they should do business with. the methodology analyzes the published financial statements of banks ( i. e. information already in the public domain ) and draw conclusions based on parameters such as asset size, deposit liabilities, profitability and capital adequacy. pricewaterhouse coopers gave me absolute liberty to choose my topic. since we are launching a report on banking sector developments and performance, i have chosen to focus on the subject of risk management. from as far away as the united states of america we know the recent financial sector crisis originated from the sub - prime mortgage sector of the banking system. the impact has been felt around the globe and has left, in its wake, major financial institutions on their knees. the developments have affected hitherto remotely related economies and have left lessons for policy makers and bankers. not very far from here, nigeria averted a major crisis in its banking sector in 2009, requiring the central bank injecting liquidity into a number of banks and installing turnaround management teams to steer these banks out of trouble. what lessons are there to learn from financial crisis especially as we re - capitalize our banks to make them stronger and therefore better endowed for effective financial intermediation? are well - capitalized banks necessarily a good thing, especially where this is not complemented by strong risk management? i propose to share with you some perspectives on these issues. rationale for well - capitalized banks the banking system has three major functions : taking deposits, making loans and investing in securities. through its financial intermediation function, banks facilitate capital formation and promote economic growth. however, the ability of banks to eng

antonio fazio : a brief look at the economy in southern italy and accounting practices address by mr antonio fazio, governor of the bank of italy, to the otranto city council, castello aragonese, 25 september 2004. * * * i would like to begin by thanking everyone for their warm welcome and the civil and religious authorities for honouring the institution i represent by their presence. it is indeed a pleasure to be here in your city, known in ancient times as hydruntum, after the nearby river idro. the monuments and the outline of the old town immediately evoke its magnificent history and the role it once played in the salentine peninsula, which for many centuries was terra d ’ otranto the ‘ land of otranto ’. the beatification of the hydruntum martyrs recalls an episode firmly imprinted in the memory not only of this part of italy : the valiant resistance of its citizens against a violent siege raised long ago in 1480, when 800 men paid with their lives for refusing to renounce their christian faith ; it brings to mind other tragic times in the history of our country. it leads us to reflect on the goals to which humankind aspires, and on the principles that we must, especially now, preserve and reinforce in the international order in defence of life, liberty and democracy. to ensure detente will prevail among nations and people will live together in peace ; to foster the development of relations between different races, religions and lifestyles in the name of human dignity. 1. this is my first visit to otranto, and i am struck by the picture i see. in addition to its rich artistic heritage, the city enjoys an enviable position, set as it is in lovely countryside, with the sea and a beautiful stretch of coast. otranto has all the right qualities for a substantial growth of tourism. its residents possess the spirit of initiative and organizational skills needed to capitalize on the available environmental and artistic resources and local produce and crafts, which are renowned for their excellence. in 2004 otranto again came top of legambiente ’ s ranking of italian summer resorts published in the italian touring club ’ s blue guide for the year. the current project to set up a marine park along the otranto - santa maria di leuca coast will also make an important contribution to environmental policy and benefit the local community. the city looks across the sea towards the east ; it responds with