As I hope most of you know, Phase 1 of the Code was launched in May last year in New York.1 The complete Code will be released in London in a few months' time at the end of May. It is pretty easy to find.
Conversely, if savers become more risk-tolerant, financial risk premiums will decline. In response to these reduced penalties on risk, firms will be induced to adjust the mix of their endeavors toward more-speculative projects--but, importantly, presumably ones that also offer higher prospective rates of return on average, which more often than not, translate into higher long-term average economic growth.