These Regulations continue to apply to all banks, with the exception of mutual banks and cooperative banks. Additional capital requirements have been imposed on domestic systemically important banks. Page 4 of 13  The Regulations continue to make provision for separate and additional capital requirements to be imposed on banks based on idiosyncratic risk factors in the form of Pillar 2b capital add-ons.
In the MPR projection, economic slack is not fully absorbed until into 2023. Let me say a few words about the outlook for inflation. In recent months, CPI inflation has increased to near the bottom of the Bank’s 1 to 3 percent target range.