BIS central bankers’ speeches  5  The decline in the presence of foreign banks reflects both a change in business strategy and, in some cases, the effect of regulations. For many banks operating in Australia, the effect of regulations such as increased capital requirements and the leverage ratio have not been binding on their business models.
[Page 11: The five proposals of the High-level Expert Group]  16  Gambacorta and van Rixtel (2013), Structural bank regulation initiatives: approaches and implications. BIS Working Paper 412. Vinals et al. (2013), Act local but think global: Can the Volcker, Vickers, and Liikanen structural measures create a safer financial system? IMF Staff Discussion Note 13/4.