I have the honour of chairing the oversight body of the Basel Committee. We have extended the membership to supervisory authorities and central banks of 27 countries. In September, we met in the new composition for the first time. This was, indeed, a very important and, I must say, challenging meeting given the issues at stake.
I was very pleased that we reached agreement on a comprehensive set of priorities for the work of the Basel Committee in the short-term. These measures will constitute a major overhaul of the prudential framework and will improve the resilience of the financial system.