The Committee is therefore taking a carefully considered approach to the design and calibration and will review the impact of these changes to ensure that they deliver a rigorous overall liquidity standard. It will introduce the LCR as a minimum standard in 2015 after thoroughly assessing its behaviour.
Measures of productivity tell us how much output we produce from the use of tangible inputs—such as skilled workers and capital equipment—and intangible inputs—such as technological advances and managerial and entrepreneurial know-how. Productivity rises over time as we boost output by finding new and more efficient ways to use these inputs.