I hope you will not see the recent changes as just more rules to cramp your style. On the contrary, by shifting to more strategic regulation of corporate governance, risk management, and capital adequacy, we hope to give banks much greater flexibility to pursue businesses that are consistent with their skill, risk appetite, and capital position.
Medium term influences As the governments of developed countries in the western hemisphere struggled to deal with the consequences of the GFC, their spending and borrowing ballooned causing fiscal deficits to rise at pace.