Key steps
along this path include completion of the
transition to full implementation of Basel III, including new liquidity requirements; enhanced prudential standards for systemically important firms, including risk - based capital requirements, a leverage ratio, and tighter prudential buffers for firms heavily reliant on short - term wholesale funding; expansion of the regulatory umbrella to incorporate all systemically important firms; the institution of an
effective, cross-border resolution regime for systemically important financial institutions; and consideration of regulations, such as minimum margin requirements for securities financing transactions, to limit leverage in sectors beyond the banking sector and SIFIs.
But anyway, I think that, had the story generally been one of widespread
effective carbon price measures, we'd be quite a bit further
along today with our energy
transition.