It is also helpful to pause at this stage to see whether our initial calibration of the resources required to operate the  2  BIS central bankers’ speeches  new PRISM supervisory framework is adequate and to focus our efforts on efficiency and process improvement. What does this mean for the supervisory levy on regulated firms?
Next year will see the full year costs of our new resource levels feed into the levy while intensifying our enforcement effort will drive up our legal costs in the short term as we ramp up to take on the big cases. But going forward, cost increases should moderate.