Indeed, during the qualification process, we expect to have several additional opportunities to evaluate institutions’ risk-management processes, models, and estimates--and provide feedback to the institutions on their progress. So QIS4, an assessment conducted at one point in time, should not be considered a complete forecast of institutions’ future Basel II capabilities or the framework’s ultimate effects.
The stabilisation of output was supported by the resilience of private consumption, positive net exports and an acceleration of public investment at the end of the year. The achievement of the primary budget balance target for end-2015 was supported by a series of important policy actions, especially on the revenue side.