assets. the bank conducted a follow - up analysis in the recent on - site examination to analyze how many of the loans classified in the previous examination ( 1993 - 94 ) were later “ written off and others ” in relation to financial losses ( “ others ” are defined as specific loan - loss provisions, losses from support by renunciation of claims, and losses from sales of nonperforming loans to the cooperative credit purchasing company [ ccpc ] ). these empirical studies using the tracing method suggest the following four points of importance for enhancing credit risk management. ( 1 ) importance of strengthening the early warning functions it is vital to control loans classified as “ substandard ” ( s ) because the likelihood of loan losses in terms of “ write - offs and others ” reaching a substantial size in the long term may vary substantially depending on the adequacy of the long - term management of this classification of loans. ( 2 ) importance of utilizing statistical methods which cover the life - span of loans for example, for loans classified as ( s ), there is a tendency for the loan - loss ratio to rise after the third year following the assessment. ( 3 ) importance of avoiding loan concentration financial institutions with highly concentrated loans in terms of industry had higher loan - loss ratios, while institutions with diversified loan portfolios had relatively low ratios. ( 4 ) importance of gathering financial institutions ’ own default data for risk quantification the estimated losses may be understated when only publicly disclosed bankruptcy data are used since losses incurred through loans against “ de facto bankrupt borrowers ” and recipients of financial support are not covered in such data. the latter type of losses accounts for a significant share of outstanding losses. the tracing method covers all these data and enhances establishment of financial institutions ’ own default data for credit risk quantification. on our part, the bank of japan will continue to check and monitor the credit risk management systems at financial institutions on the off - site basis and also during the on - site examination in a more risk - focused, seamless and flexible manner, taking individual institutions ’ circumstances into consideration. in addition, the bank will continue to research methods of quantifying credit risks as well as conducting follow - up analysis of the tracing method, in line with the worldwide trend to further enhance credit risk management. revision of the wholesale price indexes to 1995 base introduction the wholesale price indexes ( wpi ) system is one of the three sets of price index statistics presently compiled by the bank of

emmanuel tumusiime - mutebile : secure banknotes vis - a - vis non - cash instruments in uganda speech by prof emmanuel tumusiime - mutebile, governor of the bank of uganda, at the launch of the new family of banknotes, kampala, 3 may 2010. * * * the chief guest, hon. minister of finance, planning & econ. development the speaker of parliament the deputy speaker of parliament hon. ministers hon. members of parliament his worship the mayor of kampala visiting governors – central bank of kenya and bank of tanzania members of the board, bou development partners chief executives of financial and other institutions representatives of currency printers and suppliers of currency notes the artists distinguished ladies and gentlemen i wish to welcome you all to this occasion when the bank of uganda launches a new banknote series. i am glad that honourable syda bbumba, the minister of finance, planning and economic development, is here to launch the new uganda shilling banknotes. her presence reflects the support the bank enjoys from its parent ministry and from government in its efforts to serve the public better. i am also particularly delighted to welcome the governors from the central banks of the partner states of the east african community. as you are aware, one of the roles assigned to the bank of uganda is to issue currency notes and coins. over the past 20 years, the bank has stepped up efforts on four fronts. firstly, the bank widened the range of denominations. we popularized the use of low denomination coins which are useful in small value transactions especially in the rural areas. secondly, we adopted a clean banknotes policy to maintain the integrity of our banknotes. we acquired notes processing machines that automatically sort out clean notes for reissue in line with clean note policy. thirdly, the bank has continually reviewed the security features of the banknotes to keep ahead of counterfeiters. fourthly, we have widened features on the notes to assist the public to easily differentiate the genuine notes from counterfeits in addition to assisting members of the public who may suffer from sight impairment to easily identify legal tender in its various denominations. i am pleased to recognize the presence of a delegation from uganda national association for the blind. their presence is a manifestation of the bank ’ s efforts to help the visually impaired to identify banknotes with the aid of a special design feature using the sense of touch. this is the first major change of currency design in over twenty years in uganda. it is a result of