The Basel Committee on Banking Supervision (“BCBS”) have stated that the Liquidity Coverage Ratio (“LCR”) is to be introduced as a minimum standard in 2015, in line with the original implementation plans. The assets included in the LCR are designed to be drawn upon in times of stress. The BCBS may adjust the methodology for calculating the LCR, but have affirmed that such an adjustment will not materially alter the framework’s underlying approach. Furthermore, there will be peer reviews of implementation, beginning with the EU, Japan and the US in the first quarter of 2012.