Putin has proposed several reforms recently that would help banks. He would cut the tax on bank profits from a punitive 43% to 25% and would require businesses to adopt international accounting standards by 2004. More transparent corporate accounts would improve risk control in the banking system by making banks more comfortable handing out corporate loans. And closer supervision would make it harder for undercapitalized banks to circumvent capital-adequacy standards by faking their accounts. But such standards will only be meaningful if the Central Bank monitors risk in the system and sanctions those that don't comply.