I believe we should consider revisions to that framework that would better reflect the competition that smaller banks face in an industry quickly being transformed by technology and non-bank financial companies. As part of this effort, we have engaged in conversations and received feedback from community banks about the Board’s competitive analysis framework and its impact on their business strategies and longterm growth plans.
4  BIS central bankers’ speeches  The interim report on the future of EMU in October suggested that euro area Member States could enter into contracts with EU institutions, under which they would commit to undertake specific structural reforms, on the basis of measurable and verifiable targets.