Negotiations are also on at the Financial Stability Board level for implementation of a TLAC (Total Loss Absorbency Capital) framework for the banks identified as G-SIBs. The essence of all the above discussion is that the banks would need to substantially augment their capital bases to stay in the business. The question is where do you find such capital?
6  BIS central bankers’ speeches  28. I have covered much broader landscape than I had originally intended to. I believe the elite panel gathered here today would deliberate on the issues raised and also reflect on them later. I once again thank Mint for inviting me and wish you all a fruitful deliberation. Thank you! BIS central bankers’ speeches  7