In the forecasting process our modelling team spends a lot of time analysing the relevant data and forecasts of other institutions to come up with well-informed assumptions. But there is no guarantee that these assumptions will be correct or that they will remain unchanged by the time of the next meeting.
Some new rules are already fully in effect, others are being phased in or are still being fleshed out. For some issues, the approach differs per country. Nonetheless, several key common elements can be identified. I will discuss the following four: capital requirements, liquidity requirements, measures to reduce excessive risk taking, and resolution measures. Capital requirements are a first key element.