• Exit is not without dangers due to possible mispricing of credit, interest rate and liquidity risks
  • Bank’s preparation for end to unconventional policy is complicated by divergent outlooks in different regions globally
  • Banks should expect BOE to require them to hold more capital at every stage of business cycle than before crisis

These comments from Donald Kohn were from a speech he gave yesterday, released today so they’ve been out and about, not that there’s anything market moving in them.