Now is the time to finalise the regulatory reform agenda and implement the remaining measures. This includes TLAC but also the Net Stable Funding Ratio and the Leverage Ratio. Banks need regulatory certainty.
Let me remind you of the message from central bank governors and heads of supervision that they would not significantly increase overall capital requirements across the banking sector in finalising international regulatory reforms. It is fully recognised by all public authorities that proper calibration of the regulatory burden needs to be ensured.