This will mean that possibly systemic banks will be required to hold larger capital buffers. Secondly, the measures involve improving the resolution capacity of national authorities and the requirement for systemic banks to develop recovery and resolution plans.
It is, thus, too early to reach a verdict on the extent to which the observed acceleration in productivity growth since early 2005 represents a structural improvement beyond that resulting from cyclical dynamics. More information and analysis are certainly needed to reach any definite conclusions.