As you might imagine, I tend towards the view that it is not the time for regulators to rest. In my remarks today, I will touch upon three areas that require further efforts. First, for the banking sector, we need to ensure the full and timely implementation of Basel III standards and a proper evaluation of the effects of the reforms.
Second, macroprudential policy based on robust quantitative assessments should play a crucial role in sustaining the resilience of the financial sector over the financial cycle. Third, we need to see active monitoring of the non-bank financial sector, including from a system-wide perspective.