An urgent message to those holed up in Jackson Hole. Stop profiling risk! Our economies need regulatory neutrality.

Forget risk-weights and apply exclusively your leverage ratio capital requirement for all exposures that represent for instance less than a 1000nd of a bank’s balance sheet. 

There is no reason on earth why a bank should find it harder to lend a small amount to a medium or a small business, an entrepreneur or a start-up, than a huge amount to an infallible sovereign or to a member of the AAAristocracy.

Please, on our knees, we beg you… Stop profiling risk! That is an odious discrimination that impedes banks allocating credit efficiently. We need regulatory neutrality. 

PS. And all you reporters there... dare to ask The Question!