And we should always be asking, Would we be better off adopting U.S. standards, so we can have harmonized regulatory regimes across North America, rather than adhering to our own, even though ours might be better suited to our unique circumstances?
Within the evaluation framework of the Financial Stability Board, Claudia Buch is chairing a working group investigating the state of play of too-big-to-fail. Input from all stakeholders, in particular academia, will be crucial for the process to be as stringent and transparent as possible, and Claudia will elaborate on this in her dinner speech this evening.