The FSB is seeking comments on its initial conclusion that the post-crisis regulatory framework has not adversely affected bank lending to small-and-medium-size enterprises (SMEs).  Assertions that this has been the case are among the most significant in terms of both macroeconomic impact and political consequence, leading global regulators to prioritize this question in concert with a broader inquiry into unintended consequences.  Focusing on bank lending and on capital, liquidity, and national rules with SME impact, the preliminary report concludes that there are no persistent and material negative effects despite some jurisdictional differentiation.

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