BIS Review 21/2002  5  Finally, studies have shown that the consumers on an average would be paying Rs. 8,000 crores extra each year by virtue of the questionable quality of gold sold to them. In particular, the rural and middle class and women are specially vulnerable to the low quality of gold.
The post-crisis reforms are in large part finished, but some regulatory projects remain on the agenda. I strongly argue for finishing the Basel III regulatory projects by end-2016 and afterwards give them the time to take effect. The regulation of sovereign exposures is a prime example for outstanding regulatory projects.