francois villeroy de galhau : presentation of the 2019 annual report of the acpr speech by mr francois villeroy de galhau, governor of the bank of france and chairman of the autorite de controle prudentiel et de resolution ( acpr ), at the press conference, paris, 28 may 2020. * * * ladies and gentlemen, i am pleased to welcome you to this presentation of the 2019 annual report of the autorite de controle prudentiel et de resolution ( acpr – prudential supervision and resolution authority ), in the company of bernard delas, vice - chairman of the acpr, dominique laboureix, the new secretary general of the acpr, and alain menemenis, the new president of the sanctions committee. the circumstances are unusual and unprecedented. indeed, we shall be talking about a year that has ended, at a time when, since then, we have found ourselves engulfed in an unprecedented health and economic crisis. we shall come back to this. in 2019 and since the start of 2020, the women and men of the acpr have continued to work tirelessly to safeguard financial stability. i would like to take this opportunity to thank them. this morning, i shall focus my comments on an issue that cannot be ignored and that is at the heart of our concerns, without forgetting the other challenges we face – the profitability and solvency of french and european banks and insurers. i. the french financial sector entered the crisis in a solid financial position... french banks have continued to strengthen their financial structure and are today better placed to withstand the economic downturn than they were before the 2008 financial crisis. at the end of 2019, they had a strong liquidity position : the liquidity coverage ratio ( lcr ) of the six largest french banking groups stood at 131. 8 %. this means that they had a comfortable surplus of average liquid assets to fund their potential net outflows in a situation of stress. they have also significantly reinforced their solvency, thanks notably to the basel iii regulations : these have frequently drawn criticism, but today we can all appreciate how useful they have been. common equity tier 1 ratios ( cet1 ) have increased by nearly 9 percentage points in the space of 12 years, from 5. 8 % in 2008 to 14. 4 % in 2019, with a rise of half a percentage point in 2019 alone. however, profitability levels in the industry remained relatively

barry whiteside : leading fiji to economic success welcome address by mr barry whiteside, governor of the reserve bank of fiji, at the 12th alliance for financial inclusion ( afi ) pacific islands working group meeting, denarau, 24 march 2014. * * * salutations mr gane simbe, deputy governor central bank of solomon islands and chairman of the pacific islands working group ( piwg ) the g20 presidency – australia distinguished deputy governors and delegates representatives from the alliance for financial inclusion ( afi ), asian development bank, world bank, international finance corporation, un capital development fund and the pacific financial inclusion programme ladies and gentlemen. ni sa bula and a very good morning to you all. introductory remarks it gives me great pleasure to be here with you this morning. let me say how honoured we at the reserve bank of fiji are to host the alliance for financial inclusion 12th pacific islands working group meeting and i take this opportunity to welcome each one of you. for our visitors from abroad, i hope you all had a pleasant flight into fiji and that you will enjoy your stay here with us in the coming days. at the outset i wish to commend each one of you for your continued dedication, hard work and passion towards driving financial inclusion in your respective countries. this is evident through your presence here this morning. it is always a proud moment when our pacific region is singled out and used as a focal point when it comes to discussions pertaining to financial inclusion. as a regional group we have made a lot of inroads since we started in 2009 and we must continue our bond in order to stay ahead. as a group, the way we work together can only be characterised as the pacific way. i urge you all to continue our collaborative efforts and benefit from this peer learning experience. financial inclusion – catalyst for financial and economic stability there is a growing body of evidence that supports the maxim of building inclusive financial sectors. financial inclusion supports development, contributes to an efficient financial system and enables all members of the community, especially the marginalised and the poor, to improve their livelihoods and thus empowering them to effectively contribute to the economy. all this supports the un millennium development goals of halving, by 2015, the portion of the world population that live in extreme poverty. it is clear that we are also seeing changes in the landscape of central banking in recent years. whilst many central banks have traditionally focused on such core policy objectives of price stability and sufficient foreign reserves, more and more have now