Submission to the parliament of a revised banking law and other pertinent laws and regulations that include: (i) strengthened prompt corrective action clauses including an increase in penalties for noncompliance; (ii) requiring consolidated supervision; (iii) an improved bank resolution framework that more clearly defines the roles of the conservator and liquidator; (iv) legal protection for bank and non-bank supervisors; (v) a more clear definition of "group of connected parties;" and (vi) reinforced prudential supervision requirements.
With slight delay, completed on July 24, 2009.