This is revealed, for example, when looking at the bank balance sheets: between 2008 and 2015, the banks of the euro area reduced the volume of their balance sheets by roughly 15 % and increased their capital ratios by more than five percentage points to around 15 %.
3 In Germany, the balance sheet volume during the same period was reduced by as much as 23 % – and the capital ratios went up from about 9 % to more than 15 %. 4. Myths, platitudes and constructive criticism – good regulation is relatively cheap  Time and again, I hear credit institutions complain that regulatory reform has gone too far.