c) Calibration over a longer time horizon: Besides granting greater flexibility and discretion, in keeping with the requirements of the EMDEs, it is important that the implementation of the reform agenda is stretched out over a longer time horizon. This would allow the regulators to prepare the financial system and particularly the banking system for the stringent measures.
With above submissions, I would like to close my address and leave the field for a frank discussion amongst the regulators from two jurisdictions that have a great banking tradition. I wish the conference all success. Merci! 6  BIS central bankers’ speeches