A. MICHAEL ANDREWS Head of Consultancy, A. Michael Andrews and Associates, USA CHARLES A. ENOCH Deputy Director, Monetary and Financial Systems Department, International Monetary Fund (IMF), USA EDWARD J. FRYDL Senior Economist, Financial Systems Surveillance Division II, Monetary and Financial Systems Department, International Monetary Fund (IMF), USA ANNE-MARIE GULDE Advisor, African Department, International Monetary Fund (IMF), USA DANIEL C. HARDY Deputy Division Chief, Financial Surveillance Policy Division, Monetary and Financial Systems Department, International Monetary Fund (IMF), USA DONG HE Division Head, External Department, Hong Kong Monetary Authority, Hong Kong STEFAN INGVES Governor, The Riksbank, Sweden MATS ARNE JOSEFSSON Advisor, Monetary and Financial Systems Department, International Monetary Fund (IMF), USA CHUNGWON KANG Former Visiting Scholar, International Monetary Fund (IMF), USA GEORGE G. KAUFMAN Professor, School of Business, Loyola University, Chicago, USA ROSS B. LECKOW Assistant General Council, International Monetary Fund (IMF), USA MARC G. QUINTYN Advisor and Technical Assistance Area Chief, Monetary and Financial Systems Department, International Monetary Fund (IMF), USA STEVEN A. SEELIG Advisor, Monetary and Financial Systems Department, International Monetary Fund (IMF), USA INWON SONG Senior Financial Sector Expert, Financial Supervision and Regulation Division, Monetary and Financial Systems Department, International MonetaryFund (IMF), USA