Not least, the transitional periods also provide institutions with sufficient time to thoroughly check their business models. As the German representative in the Basel Committee, I will do everything I can to ensure that the transitional arrangements are 3/5  BIS central bankers' speeches  adequate.
While some institutions will have their work cut out for them, the majority of German credit institutions will barely need to take any action. This applies, in particular, to small and mediumsized institutions. As I mentioned earlier, some of you in this room can probably even expect to see lower capital requirements in future.