The regulators would perhaps be required to take the initiative in this regard to enhance the level of understanding of ICAAP in banks, the benefits that may accrue to them by adoption of ICAAP and the likely focus of supervisory assessments in this regard.
8  See Borio, (2014), idem. 9  See Taylor, J.B. (2014), “Re-Normalize, Don’t New-Normalize Monetary Policy,” The Hoover Institution Economics Working Paper Series, No. 14109; Borio, C. (2011), “Implementing a Macroprudential Framework: Blending Boldness and Realism,” Capitalism and Society, 6(1); and Cochrane, J.H. (2014), “Toward a RunFree Financial System,” April, available at SSRN.