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It is a great pleasure to deliver my remarks on the occasion of the annual general meeting of IBA Japan.
I would like to begin by talking about a proverb that relates to me. My family name is “Mori”, which in Japanese means “Forest”. As the proverb “You cannot see the forest for the trees” goes, a regulator has to grasp the condition of the whole financial system, not just specific aspects of individual institutions. On the other hand, it can also be said that “You cannot see the trees for the forest.” Each and every bank matters. The devil is often in the detail. In short, it is always important to have both micro- and macro-perspectives. I suppose similar things may apply to running a bank as well.
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