banking products or development loans with longer tenors than the current term loans in commercial banks. supply of long term funds will support this line of development. the key target markets for the development banking products are the smes with huge growth potential. to further address the structural rigidities in pricing of credit, cbk will later in march 2010 launch a study report on collateral system and associated costs in kenya. the study, jointly commissioned by kba, cbk and fsd kenya, is aimed at establishing the current status on creation, perfection and enforcement of collateral in kenya. recommendations to overcoming any existing obstacles are expected to be detailed in the study report. ladies and gentlemen : as i draw to a close, i would like to assure you that the cbk in collaboration with the government and the market players will enhance its efforts in addressing other structural rigidities that contribute to market inefficiencies – for this reason, we would also like to hear from the market as well – to take stock of developments as well as other emerging constraints. ladies and gentlemen : cbk believes that the banking sector credit information sharing initiative should serve as a model for other credit and utilities providers. cbk will engage other players to ensure that we move with speed to rope in other financial and non financial credit providers. to this end the microfinance act was amended vide the finance act, 2009 to permit credit information sharing. inclusion of all credit providers and utility service providers will allow the full benefits of credit information sharing to permeate through the whole economy. ladies and gentlemen : it now remains for me to wish crb africa all the best as they commence their operations. we do believe that the licensing of crb africa and other crbs in future will go a long way in positively altering the kenyan banking sector landscape. we want to build strong institutions in the financial sector and information capital is one of the pillars of a strong institution. as i have emphasized, strong institutions define the appropriate incentives ( punishments ) that encourage prudent behavior. with these few remarks, ladies and gentlemen, it is now my honour and pleasure to declare crb africa officially launched. thank you.

- absorbing capacity, which includes both equity and long - term debt. 5 the requirements that establish and support the orderly resolution of firms are important to supporting the financial stability of the united states. of course, these requirements have evolved over time, most recently with a proposal intended to increase the efficiency of living wills by alternating between data - intensive full plans and risk - focused targeted plans. i expect that further evolution will be 5 / 8 bis - central bankers'speeches considered in response to ongoing changes in the financial landscape and the risks facing the largest firms. in doing so, i believe that fairness dictates that broad supervisory powers should not displace rulemaking. in my view, the need for fairness and due process in resolution planning is particularly critical when it comes to considering whether and how to address concerns about the resolvability of regional banks. this question of fairness and due process is important, and it involves, among other things, a debate about the merits of a single point of entry resolution strategy on the one hand ( more common among the gsibs ), and on the other hand, established bankruptcy and fdic bank resolution procedures. this issue transcends particular firms, and particular transactions. it is an issue that affects a broad range of institutions of similar size. and policy actions in this area will require working with colleagues at other bank regulatory agencies and seeking public comment. fairness dictates that this debate occurs in the arena of regulation, with all the appropriate due process protections that this entails, and not on an ad hoc basis for a single firm that chooses to make an acquisition subject to regulatory approval. if the regulatory framework for resolution needs to be improved, we should look at the framework, and identify and remediate any areas of concern. it is hard to understand why banks that choose to grow through acquisition should be subject to different resolution expectations than banks that grow organically. this strikes me as a clear example where requirements and expectations should only evolve through appropriate rulemaking processes, consistent with underlying law, in order to promote a level playing field. other areas there are a number of other areas where i think these principles can help frame a productive conversation about the future of regulation and supervision, including around banks engaging in crypto - asset - related activities, and improving the transparency of supervisory standards. another area where regulation and supervision continues to evolve is around banks engaging in crypto - asset activities. these activities raise a number of significant issues. when i think about the