Evolution and shortcomings of capital regulation Although they had long used bank capital ratios as a supervisory instrument, U.S. bank regulators did not impose explicit minimum capital requirements until the 1980s.
While countries outside a monetary 3/6  BIS central bankers' speeches  union can devalue or revalue their currency to rebalance their economy, those inside a monetary union need to make adjustments through other channels. However, many countries first have to open up those channels. They have to make their economies sustainable and more competitive with the aid of structural reforms.