Figure 1  To be assured of having sufficient funds with which to meet payments throughout the evening, ADIs directly involved in the DE exchanges will each need to retain higher balances in their ES account. From November, the Reserve Bank expects ES balances to increase from their current level of $ billion to be between $ and $ billion on an ongoing basis.
Let me take one very specific example to illustrate my point. The banking union is not yet considered a single geographical area in the supervisory methodology applied to globally systematically important banks. These G-SIBs are subject to additional capital requirements, which are calibrated on the basis of a cross-jurisdictional indicator.