With the Collins Amendment9 providing a standardized, statutory floor for risk-based capital; the enhanced supplementary leverage ratio providing a stronger back-up capital measure; and the stress tests providing a better risk-sensitive measure that incorporates a macroprudential dimension, the IRB approach has little useful role to play. We would continue to expect that firms practice sound quantitative risk management using internal models and other techniques.
Conclusion Today I have focused my talk on the future of financial services. I strongly hope that financial services in Japan will open up new possibilities for firms and households and contribute to strengthening the economy.