Internationally, the Basel Committee will continue work on the indicators used in its capital surcharge methodology and, of course, has yet to finalize the list of systemically important banks and the assignment of those banks to the various surcharge buckets.
In both arenas it is important to move as quickly as feasible to complete all this work, so as to provide more clarity to banks, markets, and the public on the details of capital requirements, while still ensuring that the final regulations and requirements are well-crafted. But if details are still lacking, the direction of these reforms is now clear.