Raising the quality, consistency and transparency of the capital base has been one of the primary objectives of the Committee’s reform programme. Overall, these rules that will govern the capital structure represent a substantial strengthening of the definition of capital.
This shows how hard it is to forecast, of course. But perhaps it also demonstrates that with time, effort, discipline, good policies and a bit of luck, economies can be returned to health and their citizens to prosperity. Financial market recovery To that end, it is helpful that the global financial system is gradually recovering its poise, after a near-death experience eighteen months ago.