##w ). edw is a strategic and transformative initiative that gives cbk an opportunity to become a data driven central bank through automation of data collection, storage and analysis. in particular, it will provide a centralized depository of data, shortening the time it takes to prepare and generate business reports while ensuring their accuracy. turning back to the finaccess survey 2021, it has continued to be a reliable workhorse in our data stable. this being the sixth survey since the 2006 baseline, it remained faithful to the original principles of enhancing financial inclusion measurement ; providing better understanding of the financial inclusion landscape over time ; and informing other actors in the financial inclusion space. it was unique in a number of ways. firstly, it was undertaken as the covid - 19 pandemic evolved and mutated. secondly, it drilled down to the 47 administrative units ( counties ) that constitute kenya. lastly, it covered all dimensions of financial inclusion ( access, usage, quality and impact ) including sustainable / green finance and financial health. the survey ’ s topline findings were : 1 / 2 bis central bankers'speeches first, the financial inclusion landscape was impacted by covid - 19 with overall financial access increasing to 83. 7 percent of adults in 2021, from 82. 9 percent in 2019, mainly driven by the use of technology. second, the adult population that reported to be completely excluded from accessing any form of financial services or products increased to 11. 6 percent in 2021, from 11. 0 percent in 2019. this in part reflected the impact of covid - 19 restrictions that made it difficult for youths turning 18 years to take national identity cards, a prerequisite for accessing formal financial services. third, the usage and quality of financial services and products continue to deepen on account of among other factors, increased adoption of technology and innovations. technology is playing a critical role in closing the financial inclusion gap among the genders and across the country. as i draw to a close, let me leave you with three key takeaways from the survey to reflect on and deliberate on. first, surveys such as this are a critical cog in translating the vision of being a data driven organization into reality. this is indeed true for countries at different levels of financial inclusion. this is as true for kenya that has been on the financial inclusion journey for long, as it is for a country contemplating its first financial inclusion survey. for the pioneers, it is about moving beyond access to financial services

counterparties have become systemically important financial players. the commonly used term " too big to fail " is synonymous with this importance and, at the same time, serves as a call to all of us to take precautions to avoid the failure of the critical functions performed by these fmis. second, we should be aware that central counterparties are embedded in a very complex and highly interdependent ecosystem of clearing members, clients, markets, financial and technological service providers, to name only a few. and third, we have observed that there has been a constant progression when it comes to the clearing landscape. clearing services and risk models keep evolving, learning lessons from the past as well as anticipating potential future periods of volatility in the financial markets as a result of geopolitical tensions and climate - related effects. 2 / 5 bis - central bankers'speeches and these three aspects are what makes further development and enhancement of regulation so crucial. which is why i very much welcome the strides taken by the fsb in their efforts to further strengthen trust in the clearing ecosystem. first in 2022, the fsb together with cpmi - iosco delved into the complexities of ccp financial resources and conducted a quantitative and qualitative exercise, laying the groundwork for the fsb report that's now been produced. the heart of the present fsb report is the expansion of our existing toolbox to incorporate new features for resolution purposes. the fsb is offering jurisdictions an additional footing to set up instruments to deal with crisis situations severe enough to trigger resolution. existing, but also new funding instruments are presented and analysed in this report, such as statutory or contractual variation margin gains haircutting for resolution and equity in a first - loss position. but we need to remember that access to tools is not an end in itself. they must be fit for purpose. so, whenever we're talking about tools for resolution planning, there's a couple of questions we have to bear in mind : can these tools contribute to an effective resolution strategy? and do the advantages of using them outweigh the disadvantages? in this regard, i applaud the fsb's foresight in choosing to design the toolbox in a flexible way. this allows the jurisdictions discretionary scope to address the individual specifics of the supervised ccps, the local situation of the financial market and, finally, to select the best and appropriate tools for overcoming a crisis. 4 global collaborations :