At the end of the day, the ultimate objective of the reforms needs to be ensuring the risk sensitivity of the framework, meaning that the capital requirements reflect the actual risks of an institution as accurately as possible.
For the Basel Committee, this also means looking at more than just the global average increase in capital requirements and focusing on a regional balance as well. The German representatives in Basel are not alone in this quest, but work in close cooperation with other negotiating parties. We are grateful to have the strong support of the ECB on this matter.