This will arise both from changes in the global regulatory environment and in the manner in which regulation is implemented in Ireland. The international regulations dealing with capital requirements, liquidity, provisioning and accounting standards under which banks everywhere operate will be revised, in significant part, to address issues that have arisen with respect to capital adequacy and liquidity.
These years of extraordinary innovation are enhancing the standard of living for a large majority of Americans. We should be thankful for that and persevere in policies that enlarge the scope for competition and innovation and thereby foster greater opportunities for everyone. BIS Review 21/2000  4