This may not be sufficient to fully meet the capital needs of the PSBs under Basel III norms particularly since the projections are based on minimum requirements. We also have to remember that Pillar II assessment has not taken off effectively/ fully as of now. The PSBs will have to chart out a clear capital raising plan over the next five years.
Conclusion  Ladies and gentlemen, allow me to conclude by reiterating the four main points of my speech. First, the first year of European banking supervision went smoothly. Of course there are still a few things that we can improve upon, but we’re working on them.