BIS central bankers’ speeches  3  Instead, the proportionality debate ought to tackle the issue of operational burdens. In my view, this is the appropriate starting point for all other considerations. Consequently, the concept of “greater proportionality” should not morph into an opportunity for institutions to present their wish lists.
This means that we should systematically examine the areas in which regulation is not sufficiently proportionate and that we must consider how we can systematically improve this. What this does not mean, however, is that a patchwork of wish lists should be incorporated into existing regulation. Notably, simplifications of minimum capital and liquidity requirements cannot and will not be granted.