In the days when I myself was being supervised, I voiced criticism when I felt it was right to do so. But criticism, whatever form it may take, needs to be constructive and honest and it shouldn’t be unduly sweeping.
Regrettably, that cannot be said of all the utterances in the public debate on 1 / 13  BIS central bankers' speeches  this topic. 3. Regulatory proportionality is lacking Regulation and supervision are crucial, and it’s right that they should be something of a burden. But it is also clear that needlessly heavy demands should be avoided.