We think it’s important to tailor rules whenever possible to clearly distinguish requirements for different portfolios of depository institutions and reduce unnecessary burden on community banks. Of course, tailoring regulations may be more challenging in some areas, such as rules that provide transparency and fairness in consumer transactions because those are standards that apply throughout the financial system.
The potential for growth remains high in the largest industrial economy, on whose performance the international cycle depends crucially. It is estimated at around 4 per cent. The diffusion of new forms of organization of production, made possible by information technology and by new technologies, have involved only a part of the economic system; the process can continue in the years ahead.