The envisaged reforms aim at creating a strong regulatory framework that ensures financial stability and supports steady and sustainable economic growth. The major step towards that end will be the reform of the Basel II framework for capital regulation. Relevant proposals were put forward in December 2009 by the Basel Committee on Banking Supervision.
The proposed measures have since been calibrated and have been decided as a package last weekend in Basel by the meeting of Governors and Heads of Supervision. In November, the G20 will take the final decision on the implementation of this package. BIS Review 117/2010  1  The new rules will shape the financial system for years to come.