• Only humans have the biological capacity to communicate with a rich language based on symbols and rules, enabling us to pass on cultural ideas to future generations.

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  • But there would probably be only a limited impact on capital because accounting rules give banks wide latitude in calculating the net present value of the bonds, enabling them to reduce the hit they would take to capital.

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  • An election may not be called while enabling legislation is debated and passed, but has to be held thereafter, probably next May, under the new rules.

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  • Those needs centre on enabling experienced and sophisticated investors to access talented investment professionals, while ensuring that retail investors retain the protection of detailed rules and regulations designed to prevent fraud and promote transparency.

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