John Cryan who took over his position as the sole Chief Executive Officer (CEO) of the bank after Jürgen Fitschen stepped down as Co-CEO last month, indicated such plans in a conference in New York this week. Cryan views that the implementation of rules proposed by the Basel Committee on Banking Supervision for calculation of operational risk may lead to "quite a significant inflation in the amount of capital that would be required." The report quoted Cryan saying, "The big issue for us, and this is a little idiosyncratic to us, is on the operational risk side."