Amid soaring commodity prices and the risk of escalating global uncertainty, fiscal policy in 2023 must be vigilant, anticipatory, and responsive (Scheme 2).
Basel II proposals The current Basel I capital framework, adopted nearly twenty years ago, has served us well. For the vast majority of U.S. banks, Basel I continues to provide a useful measure of regulatory capital, while not being particularly burdensome. However, Basel I has become increasingly inadequate for large, internationally active banks that are offering ever more complex and sophisticated products and services.