GDP growth data provide a picture of a slowdown in growth during the first quarter of 2014, with growth of 2.1 percent, and a sharp slowdown in the growth of business product (0.4 percent). It is important to emphasize that the data are obtained with a lag.
At the same time, it is crucial that international financial centers of systemic importance have a voice in the international standard setting, so these can benefit from their wealth of experience and competence in supervision based on the proximity and high interaction with the supervised entities. 6  BIS central bankers’ speeches