Countries are therefore continuously made aware of the risks and costs arising from any delay in taking policy action to preserve the sustainability of public finances. To maintain the credibility of the fiscal policy framework it is essential to fully abide by its rules and to implement them in every respect.
In the future, we expect to have better assessments of the framework's impact on U.S. banks before it is fully implemented. And as we move forward in this process, we expect that additional information provided by U.S. supervisors--through rulemaking and guidance--would allow bankers to produce regulatory capital results that are more accurate and likely more in line with our expectations.