2/5  BIS central bankers' speeches  However, this risk that supply disruptions persist longer than we expect figured prominently in our deliberations leading up to yesterday’s policy decision. So, I’ll turn to how we have been assessing this risk and how we adjust our forecast when a risk materializes.
Any systemic risks that are identified have to be rigorously contained. The refinements of the international regulatory framework that have already been put in place represent a gain for financial stability. The course has been set for an improvement in banks’ capitalisation and liquidity.