But much more is required. We need to ensure consistent implementation. That is why the Financial Stability Board (FSB) just released a review of implementation in major jurisdictions. This review identified some deficiencies that will need to be addressed. The FSB and the G-20 will continue to use such transparency and peer pressure to ensure a level playing field.
Of course, bank resilience is a function of much more than just capital. It also requires better risk management and improved governance. I will conclude later with some comments on how the totality of FSB reforms will encourage just that. Have we ended too-big-to-fail?