In addition to having the meeting in Kosrae, the board also undertook a public education program to educate the public on its mandates, objectives, and activities as the supervisory and regulatory arm of the national government.
All board members were present, except the newly confirmed member, Joseph Habuchmai, who had other pressing matters and commitments.
The board solicited views and comments from the state primarily on areas relating to financial sector supervision and regulation prior to the meeting.
The leadership and people of Kosrae were informed that the banking system in the FSM continues to be safe and sound from the regulatory point of view, despite the global financial crisis. Key financial soundness indicators were emphasized in the briefing.
