However, we do understand the concerns of bankers surrounding Basel II and how it will actually be applied in various jurisdictions. The good news is that supervisors are already building upon their existing relationships to accommodate differences in national jurisdictions and minimize the burdens placed on banks. The Federal Reserve has a long history of working constructively with other national supervisors.
Thus, some community development groups now are simply trying to hold onto past progress that they have made in building up the physical infrastructure and human capital of their communities, while others have lost ground and are beginning the process of rebuilding.