For example, what is known as the output floor – a very distinctive feature of the finalisation package – will not 1/4  BIS central bankers' speeches  come fully into force until 2027. Moreover, let me stress how valuable a global compromise on banking standards is.
And  1/2  BIS - Central bankers' speeches  inflation is expected to hover around 7% in the final quarter of this year, fall to around 3% by the end of next year and return to the 2% target by the end of 2024. Finally, we are trying to balance the risks of under- and over-tightening.