“The Financial Stability Board (FSB) and Basel Committee on Banking Supervision (BCBS) concluded their assessment of the macroeconomic impact of the transition to the new bank capital and liquidity standards. The assessment, produced by the joint FSB-BCBS Macroeconomic Assessment Group (MAG) in close collaboration with the International Monetary Fund, is summarised in the MAG’s final report, Assessing the macroeconomic impact of the transition to stronger capital and liquidity requirements. The report provides an assessment of the transitional impact of the implementation of the stronger requirements set out in the 12 September statement of the Governors and Heads of Supervision (GHOS). In August, the BCBS released a report, An assessment of the long-term economic impact of stronger capital and liquidity requirements, which assessed the net economic impact of stronger capital and liquidity reforms once implementation is complete.”