Two important determinants, among others, that have been adversely affecting private consumption and investment are the perceived unusually high uncertainty surrounding the European and global economic outlook and the exceptionally low confidence in the financial system. Reducing this uncertainty and restoring confidence will be crucial for increasing the effectiveness of the policy measures being implemented and the pace of the recovery.
So, to some degree, we can rest easier now. But these rules are mainly geared towards large banks with international ties, which is not exactly surprising considering these banks were the ones at the epicentre of the crisis. Consequently, 2/6  BIS central bankers' speeches  the Basel Committee focuses its attention on precisely these institutions.