linah k mohohlo : official launch of new botswana coins welcome remarks by ms linah k mohohlo, governor of the bank of botswana, at the official launch of the new coin, gaborone, 27 february 2014. * * * on behalf of the board and staff of the bank, i welcome you, sir, your excellency the president and all invited guests, first, to the bank ’ s impressive premises ; second, and more fittingly, to this event, the proceedings of which will culminate in the official launch of the new family of botswana coin. i wish to acknowledge the presence of your lordship the chief justice rre dibotelo, and your excellency the former president, sir ketumile. the honourable minister of finance and development planning, rre matambo, and your honourable cabinet colleagues, the honourable deputy speaker of the national assembly, members of the diplomatic corps, chief executive officers of banks and other financial institutions, distinguished ladies and gentlemen – your presence too is acknowledged. your excellency, as and when we have the opportunity to host you in the bank ’ s premises, as is the case this morning, we feel distinctively honoured. it is all the more so when we are privileged to host you on this particularly special day, february 27. happy birthday your excellency, and many happy returns. i take pride in paving the way for you, sir, to launch the new family of coin and declare them legal tender in botswana, so that they can be available for public use in daily transactions. indeed, the public and business community are anxiously looking forward to the new coins. i have only a few remarks to make before i make way for appropriate officiation. in line with international best practice, the bank embarked on a comprehensive review of the denominations, composition, form and design of the country ’ s currency some years back. once the honourable minister of finance and development planning had given the go ahead, in line with the relevant section of the bank of botswana act ( section 24 ( 2 ) ), the first step of this exercise involved a renewal of all banknotes in 2009, which resulted in the issuance of the pula banknotes currently in circulation. now we have a new set of coin, soon to be launched, the make - up and denomination of which i leave for his excellency the president to speak to. in fact, your excellency ’ s input and guidance

gabriel makhlouf : lessons from covid – a macroprudential framework for the market - based finance sector opening remarks by mr gabriel makhlouf, governor of the central bank of ireland, at the bank of france financial stability conference 2021 roundtable, 1 march 2021. * * * let me start by thanking the banque de france for the invitation to join today ’ s conference and contribute to your financial stability review. i support governor villeroy de galhau ’ s three areas for action that he has set out in his review article. i am in favour of strong and effective resilience frameworks that operate in individual countries, in the eu and across the globe. of course, as with so many things, we will need to consider carefully any proposals for reform to ensure they do not have any unintended consequences. for example, it may be too soon at this point to draw definitive conclusions from our experience with the pandemic. but i do think there are some clear lessons that we can already take from the past year. let us start by remembering that macroprudential frameworks are very new. arguably, they were still in their adolescence or teenage years when the shock from the pandemic hit. but benefits are now being already seen. why do i say this? our approach has been to build resilience over the last number of years, when times were good so that we could use it when we needed it. the pandemic is not over but, on the evidence so far, and despite the effects of the shock on our communities and busineses, the core of the financial system has remained resilient, both financially and operationally. we faced an unprecedented economic crisis but we did not see the banking system amplify the economic disruption. 1 so the first lesson is we must now focus on taking these frameworks from adolescence to maturity. another key lesson is the need to develop and operationalise a macroprudential framework for market - based finance. this would be beneficial for the stability of the financial system as a whole, and not just market - based finance. today ’ s financial system is now significantly different than before the financial crisis a decade ago. the banking system has seen a gradual decline in its share of total financial intermediation, a change accompanied by a corresponding increase in parts of the non - bank financial system. and in particular by market - based finance. for the avoidance of doubt, market