The new quality standards for the sector, which came into force in April, are also significant in terms of driving workforce development, according to Enver Solomon, director of evidence and impact at the charity the National Children's Bureau (NCB).
Mr Duisenberg is more a "moderator" of the ECB's 18-strong governing council (the six executive board members, plus the 12 NCB governors), which meets to set rates every fortnight.Unable to rely on a strong individual, the ECB has set out a monetary-policy strategy with two "pillars", designed by Mr Issing.
At the latest auction NCB debentures offered a coupon 40 basis points higher than those issued by IBJ.But risk generally remains ill-rewarded, and not just because of regulation.
It enables bidders to play the banks and their advisers off against one another, and so drive down the price (Goldman Sachs is advising LTCB; Morgan Stanley is retained by NCB).
"One of the problems you have with Saudi markets and all G.C.C. markets is that institutional investors and insurance funds that tend to drive the more established markets in the West are less important in Saudi Arabia and the G.C.C.," said Jarmo Kotilaine, chief economist at NCB Capital, the investment arm of the Saudi bank NCB.
I insure my car with Zurich and pay extra for no claims bonus (NCB) protection.
Come August, all sales material must specify how much an NCB is worth and what the cost would be in the event of a claim, so customers can decide if it's worth it.
By 1965 output was 177m tonnes, but from a far smaller number of mines and with only half a million staff on the books of what was then called the National Coal Board (NCB).
The retreat by Thatcher turned out to be partly tactical (there was not enough coal in stockpiles at the time) but it was also from a realisation that the wrong man – from her point of view – was at the helm of the NCB.
Solomon contributed to NCB research, which was commissioned by the DfE and published in January, that looked at the training and development needs of the residential children's home workforce.
He told Walker: "You will realise that, built into the legislation under which the NCB operates, is a degree of consultation on a scale which I doubt is matched in any other industry.
