Now is the time to finalise the regulatory reform agenda and implement the remaining measures. This includes TLAC but also the Net Stable Funding Ratio and the Leverage Ratio. Banks need regulatory certainty.
This poses a whole set of problems for official price statistics, and it has not yet been possible to solve them all in a fully satisfactory manner. For instance, it is hardly feasible to take due account of new goods and new types of outlets in “real time” when measuring inflation.