However, the overall growth momentum of these economies has started to decelerate, due in part to the unwinding of accommodative monetary policies by authorities in these economies.
The key unfinished parts of the Basel III agenda, such as the leverage ratio, reductions in the variability in risk-weighted assets, total loss absorbing capacity (TLAC) and the fundamental review of the trading book, look set to be finalised in Europe by the end of this year. That should help provide clarity on the post-crisis steady state.