20  Basel Committee on Banking Supervision (2010), “Guidance for National Authorities Operating the Countercyclical Capital Buffer (PDF),” (Basel, Switzerland: Bank for International Settlements, December), p. 1. BIS central bankers’ speeches  9  It is probably not surprising that the regulators represented on the Basel Committee have chosen capital requirements as a time-varying macroprudential tool.
Capital regulation is central to prudential regulation and, as already noted, is being used in service of macroprudential objectives. Both regulators and financial institutions are accustomed to capital regimes (although the post-crisis changes have altered that regime quite significantly).