The Board’s preliminary assessment, taking all of that into account, was presented in a second consultation paper that was published in December, including a set of draft standards for further comment. The Bank received over 40 substantive submissions in this second round and held more than 50 further stakeholder meetings, all of which will be considered in the Board’s final assessment.
As I said at the outset, I expect the Board will decide on a final set of standards at its meeting next week, with an announcement to follow soon afterwards. All up, it will have taken a bit over two years from the time when the Bank first signalled its intent to undertake this review until its completion.