If I furthermore take into account the previous definition of capital, some institutions could present the level of common equity of only 1%. For these institutions it is a multiplication by 7 which has been agreed. This is a big step upward.
In June 2016, the Bank of England advised that it would collaborate with FinTech firms on measures that could support its ‘mission’ as a central bank. The Reserve Bank of India has appointed an inter-agency FinTech working group to ‘review and appropriately reorient the regulatory framework and respond to the dynamics of the rapidly evolving FinTech scenario’.