bank itself has been undergoing a structural revamp which i shall speak about only shortly as i have spoken on this many times before. basically the six levels of management and one level of operation have been transformed to have only two levels of management and two levels of operations, with each level having people of different ranking depending on the size of the job. this is the usual broad - base horizontal organisation that modern businesses have, not surprisingly proposed by a t kearney, our consultant. there are now no more “ banking ” or “ note issuing ” departments as first so clearly expounded in bagehot ’ s “ lombard street ” written in 1873. it is sad when one has to move away from what has become an institution of central banking, but we have to move with the time, as so many central banks have had to do in the past decade. work on reorganising the management side is now fully complete and we are working on reorganising the departments and its work system which will take about another two years. we have of course over the last two years been developing control over the money market. developing the debt market and improving our supervision examination capabilities. we can truly say that we have very good information in the form of database daily on the money markets in the country and have developed the instrument to fairly effectively control offshore activities. in terms of the debt market, we have developed a government bond market and a yield curve, and our next move is in the area of the private sector debt instruments which we have formally formulated into project, using a t kearney ’ s methodology to execute our plan. in the area of examination and supervision, we have now finalised a system where we train and with the assistance of outside authorities certify our supervisors to be of high and uniform - standard apart from changing the method of supervision from individual - based to one of approval - by - peer - groups comprising a supervision and examination committee inside the central bank. let me get on to more interesting subjects. changing yourself is sometime easy and sometime difficult depending on how you manage to tackle the psychology of it. but changing other people is always difficult especially if they are well entrenched, rich, and will not let go of their apparent present prosperity even though they are heading for disaster sooner or later. i am of course talking about changing our banks which we are trying to do through three main approaches : competitiveness, good governance and transparency. although fully half of our banks will probably be

, i still think, very much wrong with it. firstly it is not very user - friendly. the format is amateurish and there are no “ search ” and “ help aid ” for users. so we hired outside webpage experts to upgrade it, who have been working for the last year, and will be ready to go forward with our easy - to - read, easy - to - use, user - friendly format in the next couple of months. the information available on our webpage, whilst extensive does not go back very far in history, and to do real economic analysis, you may have to contact with the team responsible for these issues. though this is easily done automatically by just clicking into the information item, it is still much better to have the information readily available on the internet rather than having to contact people. in the more major task of restructuring the organisation, the work system and the vision of the bank of thailand which we have been doing in the past two years, we have established a new department called the data warehouse department. this department will store all the information of the bank, sourcing the raw information totally by edi, thereby dispensing with the more than 900 paper reports that the financial institutions are having to fill every month and make the information available to every user inside the bank of thailand and outside the bank according as to their needs and access clearance. upon completion of the data warehouse, we have a plan to make economic information available on our webpage over a 20 - year historical time - span, and this will be done in the next two years. another user - aid which we have done, but have not had the time nor resource available to make it really effective, is having a separate english and thai language webpage. we have instituted this dual webpage, but unfortunately the english translation is quite frequently not available. we will try to have more of an equivalence between the two services. but the english language, not being the language of choice in thailand, we expect that the word “ available only in thai text ” is going to reign supreme for a very extensive part of the alphanumeric system. a webpage might seem only a small matter to bring up for this speech, but actually an organisation ’ s webpage signals its attitude towards advance technology and its intent to be transparent, so it is an important item and is useful to look at for a quick checking into the attitude of people you don ’ t know well. more importantly the central