The first element of reforms centered on the Basel III package. The quality and level of capital has been increased  and new standards for liquidity has  been introduced. In addition, leverage has been constrained and explicit macroprudential dimension has been introduced. 7.
Is there room for national ambition in the area of anti-money laundering and counter terrorist financing? The simple answer is YES. For instance, further increase in Lithuania’s ranking by the Basel AML index and to make further progress towards meeting the 40 Financial Action Task Force (FATF) Recommendations.