We are proposing that the top 1.5% of this 10% capital buffer consist of a ‘counter-cyclical capital buffer’, which would be removed in the event of a large economic stress so that banks could continue to lend to support the economy during this stress period (provided of course that the bank was fundamentally healthy).
This growth was attributed to a sharp expansion in public and private sector construction activity, partly due to the preparations for the Cricket World Cup 2007. Increased activity in wholesale and retail trade, transportation and communications, and the banking sector, also contributed to growth in 2005. The performance of tourism in 2005 was somewhat weaker than in 2004.