As a first step, in the months following the release of the conclusions of the Review, I expect there to be a healthy dialogue with the industry on the sorts of goals that the Payments System Board has in mind for the payments system, along with more focused discussions on some specific solutions.
In other cases, banks did not price liquidity appropriately throughout the firm, and correcting risk management deficiencies will in turn improve liquidity profiles. In fact, the initial response we have observed in some countries that have already implemented comparable liquidity ratios suggest that these are the types of strategies that are being pursued.