For example, global regulators heard the industry's call for addressing only unexpected loss in the framework, and the approach to securitization was substantially altered on the basis of comments received. Supervisors and the industry need to maintain an ongoing dialogue about Basel II, since it is such a complex and multifaceted project.
With the promise of unprecedented petro-revenues possible, host governments are working on bold, detailed and  BIS central bankers’ speeches  3  comprehensive local content policies as they eye the next phase. All these plans could be jeopardised if oil prices do not rebound in the medium term.