Ongoing Regulatory Capital Initiatives Later in the afternoon, during the second session of the conference, you will be discussing a few key ongoing regulatory capital initiatives, focusing on the completion of the Basel III reforms. As Vice Chair for Supervision Michael Barr has noted, finalizing the Basel III reforms is a high priority for the Federal Reserve.
It is not surprising that the North Atlantic economies are lagging, as they were at the centre of the financial crisis. Many of the banks in that region are still at the early stages of balance sheet repair, which is limiting their capacity to lend. BIS Review 154/2009  1  Banks elsewhere are in much better shape.