*  *  *  Ladies and gentlemen Thank you, Consul General Siebert, for hosting this event here at your residence. I am happy to have the opportunity to officially thank the Bundesbank’s outgoing representative, Thomas Notheis, and to welcome his successor, Alexander Sattler. Allow me to say a few words on the roots of international cooperation.
In the ensuing quarter century, the attention of banking regulators around the world had been heavily oriented toward elaborating capital requirements to reflect more precisely the  2  BIS Review 149/2010  particular risks faced by a financial institution. Capital requirements had, to a considerable extent, become the dominant prudential regulatory tool.