While further rises in resource export volumes are expected, they are unlikely to be at the same pace. Hence, the most recent set of GDP figures, while certainly encouraging, probably overstate somewhat the true ongoing pace of growth in the economy.
The proposed revisions, especially the advanced approaches of Basel II, represent a sea change in how banks determine their minimum level of required capital for regulatory purposes. The advanced approaches are intended to better align regulatory capital with inherent risks and banks' internal economic capital and will encourage large complex organizations to strengthen risk-measurement and -management systems.