We must remember that as financial globalisation matures it will have consequences to economies that we cannot ignore. Global capital flows will increase in size and will switch directions more easily. As a result, temporary imbalances will naturally occur from time to time. To counter these, we need to consider various multilateral policy initiatives, from international accounting standards to international capital requirements for banks, from a "New Financial Architecture" to crisis prevention and resolution mechanisms. Also, market participants will need to enhance their ability to manage vast quantities of collateral that are integral to globalised modern finance. Our goals should include not only global financial stability, but also the promotion of free flowing capital directed to its most productive uses throughout the world. That goal will bring about greater financial stability and a more prosperous future for all who choose to participate in the global economy.