This completed a hat-trick: on May 25th, a report on bank supervision from the Financial Stability Forum, a group of international regulators, had ranked the islands in the lowest grade.

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The group made the movie under the supervision of Llanbrynmair-based, Film 15, an organisation that specialises in the research, development and delivery of a range of film-making activities for young people based in mid and north west Wales.

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Even so, and as pointed out by Sir Mervyn King - the governor of the Bank of England who chairs the oversight body of the Basel Committee, which is known as the Group of Governors and Heads of Supervision (GHOS) - the fundamental cause of the crises at these banks and others was that they had too little capital to absorb losses.

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The group is called the Basel Committee on Banking Supervision (BCBS).

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Inclusion as part of the Financial Stability Forum, a group of regulators and central bankers charged with the technicalities of financial supervision, may also make them more willing to support an expansion of the fund.

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