Mr Wellink stressed that the Basel Committee is on its way to developing a framework to address the risks arising from G-SIFIs. The Committee is also carefully monitoring a variety of aspects related to the Basel III liquidity framework, and will adjust the standards if necessary.
The Basel Committee Chairman concluded his speech by saying that the regulatory response to the crisis has been developed and now supervisors must ensure that Basel III and all relevant standards are implemented. The Basel Committee will be judged on its capacity to meet this objective. Furthermore, this process will sometimes require unpopular actions and decisions but regulators must press on with resolution and determination.
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