Based on these considerations, the Bank decided to conduct a periodic survey of financial institutions, business corporations, rating agencies, and others to ascertain the functioning of climate change-related markets and the issues that need to be addressed in order to improve them. The results of the first survey were released in August.4 Please see Slide 7. The main findings were as follows.
The tax treatment of the counter-cyclical elements in the additional capital may need to be considered. Too big to fail, resolution mechanisms, and moral hazard. The experience of the last year has brought much-needed clarity to the "too big to fail" issue. Some of the great names of financial history have disappeared (e.g.