However, there would be supervisory powers to limit the open positions taken in the course of market making. Hence, the French and German proposals can be seen as an intermediate position between our proposal and separating only proprietary trading in the narrow sense. BIS central bankers’ speeches  5  Continuing with a few words on the rest of our proposals.
[Slide 10: The five proposals of the High-level Expert Group] Our analysis of capital requirements also found its way to our final recommendation. Here we acknowledged the important work done by the Basel Committee on Banking Supervision in reviewing the trading book capital requirements.