We will incorporate the latest proposal into the notice of proposed rulemaking and hope to complete our efforts in a timely manner. Challenges for supervisors In preparing for Basel II, supervisors realize that they must address their own capital needs - that is, human capital.
That is why central banks need to devote greater attention to understanding the impact of climate change, including its implications for inflation dynamics. At the ECB, the ongoing review of our monetary policy strategy creates an opportunity to reflect on how to address sustainability considerations within our monetary policy framework.