The BBA has issued a statement in which it says it believes that CRD4 reflects the Basel decisions, which it welcomes as essential for creating a more stable international banking system. However, it is concerned on how the changes will impact on the supply of credit into the economy. The BBA sets out a series of "essential next steps", including the need for a detailed impact analysis and international alignment so that implementation takes place consistently. (Source: BBA Statement on CRD4 20 July 2011)