the public ’ s acceptance and readiness for a higher value bank note. the results convinced the board it was time to introduce the $ 100 bank note. the technical work then kicked in with consultations on a theme and colour schemes with various groups and individuals. as part of this process, the central bank board appointed a “ bank note committee ”. [ one of the members was the late charles manata ]. this group, headed by the deputy governor, comprised of solomon islands artists, the director of national museum and selected cbsi managers, developed and advised the board on the theme, various features and colouring schemes. upon approval by the board, the printers were then engaged in the drawings, developing security and other technical features. a number of options were developed. these went through fairly intensive scrutiny in the bank, after which an endorsed sample of the note was printed, with all the specifications - size, colour scheme and of course security features - for ministerial approval. actual printing did not start until the final proof note – which had the exact specifications approved by the minister – received a final approval by the cbsi board. from the time initial assessments on the need for a higher value denomination were made to the time when the final proof note went to print, it was about five years. it took another 8 months before we took delivery of the first consignment of the note on thursday this week. i should add that the transportation and delivery of our currency stocks are handled under very heavy security arrangements – as it would have been witnessed on thursday morning. ladies and gentlemen, i am recounting all this to reiterate three points : first, that printing our currency is a very complicated, highly security - conscious and sophisticated technical task, requiring long lead times, involving various agencies and groups, and a lot of tedious processes. secondly, this is necessary to ensure not only a high quality product, but more so, a high level of security finished note. and thirdly, it is to assure the public that contrary to rumours floating in honiara, the delivery of the new $ 100 bank note has nothing to do with the expectations by members of the cult group, the family charity fund, of their millions of dollars. our stocks of currency are real bank notes and they do not belong to fcf as has been claimed. i assure you, the notes are safe and secure in the central bank vault. ladies and gentlemen, given recent counterfeiting incidences of the $ 50

most internationally active institutions and the operational implementation could be improved significantly ( lack of metrics, specification of strategic orientations at the business - line level … ). the development of risk analysis tools is mainly focused on transition risks as related exposures represent a potentially much larger share of their balance sheet ( net credit exposure to the most carbon - intensive sectors indeed averaged 12. 2 % of total exposures in 2017 among 6 of the 7 main french banks ) compared to physical risk - related exposures ( as most of assets are located in countries displaying a low vulnerability to climate change e. g. western europe ). a wide variety of tools have been reported but each of them has still important drawbacks arguing for further refinement and more data collection with certainly a need for support from supervisors. 1 / 2 bis central bankers'speeches finally, liability risk is not viewed as a material one at this stage despite a growing number of climate change - related litigation cases. therefore, there is ample room for progress leading the acpr to lay - out recommendations directed to institutions on the one hand and to regulators and the supervisors on the other hand. in particular, as a supervisor we should be able to quickly come up with a prudential reporting of exposures to unsustainable activities. from this point of view, the forthcoming taxonomy from the european commission will certainly be useful but not enough to achieve this as a taxonomy of unsustainable activities is needed. we should also anchor expectations of financial institutions about climate - related risks by publishing strategic roadmap about the way the supervisor intends to scale - up the supervision of these risks along the different regulatory pillars. also, developing stress - testing frameworks remains a collective challenge about which central banks and supervisors should strengthen their works. at our level, the next stage of our works is to organize work streams with banks in order to specify together the best practices of the sector in terms of governance and to reflect on scenarios and metrics to best assess the vulnerability of banks, liaising with the work carried out with the ngfs. at the end, the release of these surveys and their follow - up signal the willingness of the acpr / banque de france to gradually “ mainstream ” climate changerelated risks. this willingness is also growing among european institutions as attested by the recent move from the ssm to launch its own internal network combined with an nca climate contact group. the ambition is to contribute to european and international fora as well as be