Over the years we pursued reforms to enable our banks to respond to the evolving requirements of their stakeholders, just as it has to adapt to a changing market environment. We do not anticipate a specific market scenario. Rather, we want our banks to be in a strong position regardless of how markets swing or stakeholder needs evolve.
In effect, we envision a banking community that is not just resilient but one that is fundamentally responsive to stakeholder needs and where banks act responsibly. So in 2014, for instance, we raised the minimum required level of bank capital, recognizing that the new normal of banking treats conventional risks more aggressively while constantly identifying newer forms of risks.