Perhaps the clearest evidence of this broader economic strength comes from the labor market. Although the number of jobs in manufacturing and construction fell in October, most other sectors of the economy experienced solid job gains.
In the light of this, it should be quite understandable if the banking supervisors wanted to see capital maintenance aspects being taken into account as well when the IASs are being developed. At all events, the banking supervisors have difficulties where all financial instruments are deployed, no matter how the “fair” valuation is arrived at. BIS Review 107/1998