Such amendments could include (1) 4/6  BIS central bankers' speeches  replacing the framework’s complex treatment of high volatility commercial real estate exposures, (2) simplifying the current regulatory capital treatment for mortgage servicing assets and regulatory capital instruments issued by financial institutions; and (3) simplifying the current limitations on minority interests in regulatory capital. I should note that, in April 2015, the Board approved a final rule that raised the asset threshold of the Small Bank Holding Company (BHC) Policy Statement from less than $ million in total consolidated assets to less than $ billion in total consolidated assets and expanded the application of the policy statement to savings and loan holding companies (SLHCs). After the issuance of the final rule, 89 percent of all BHCs and 81 percent of all savings and loan holding companies were covered by the policy statement and were excluded from certain consolidated capital requirements. A second relevant topic reflects the challenges and burdens for smaller firms to file Call Reports. In response to industry concerns, the agencies began in 2014 the process to streamline the Call Report for community banks and subsequently published a series of proposals for comment. The result is that, effective March 31, 2017, Call Report requirements have been streamlined for community banks. This new Call Report will reduce the number of report pages from 85 to 61 pages and will remove approximately 40 percent of the data items currently included in the capital schedule. A third example concerns the frequency of examinations.
Opportunities that not only profit businesses, but that enable private enterprise to help solve real world problems confronting society today – including poverty, climate change and growing inequality. As you can imagine, worrying about risks is in the DNA of central banks given our mandates to promote monetary and financial stability. So the idea of innovative risk management itself would typically set off alarm bells within the Bank, and probably among a number of you in this room. But in reality, we are living in a world where exceptional conditions exist. Monetary and financial 1/5  BIS central bankers' speeches  conditions that prevailed since the Global Financial Crisis have increased financial risks. Thanks to globalisation, regulatory and political developments have a far wider international reach. And social media that has become deeply ingrained in our daily lives has led to a world described in the latest Global Risk Report by the World Economic Forum as “a world without common facts and objective truth”. Innovative risk management is therefore not just about allowing businesses to take on more risks in a responsible way. It is as much about strengthening our defences against new and emerging risks. And perhaps, most importantly, it is about providing businesses with the confidence to move beyond the present to embrace and build a better future. For many organisations, current approaches to risk management are likely to be already severely deficient in this new environment.