Following the early post-World War II period, policies generally fostering low levels of inflation and openness of their economies coupled with high savings and investment rates contributed to a sustained period of rapid growth, in some cases starting in 1960s and 1970s. By the 1980s most economies in the region were expanding vigorously.
Let me say a few words about the first two and then spend the rest of my remarks on capital requirements, which I know are probably of the greatest interest. About a month ago, the Federal Reserve proposed new reporting requirements specifically for the systemically important insurance companies.