Ladies and gentlemen, I have noted that many of you (the patient side of the Summit) have been listening intently… But for the “other side” of the Summit, you may anxiously ask, what do all these mean for the economic variables that matter to us? Quickly, three guideposts: 1.
To give you an idea: between 2008 and 2010 only one bank had losses exceeding the 8% threshold, and the average for all other banks was slightly less than 3%. If we look further back to the Nordic financial crisis in the 90s, none of the banks affected faced losses close to 8% of its total liabilities including own funds.