If it were easy, the methods would be clear and well accepted by now. If measuring credit risk with these new techniques were cheap, more banks would be applying them. It is, as I said, neither easy nor cheap. These facts are complicating the international process for developing more-risk-sensitive capital standards and reaching an agreement that addresses relevant industry concerns.
They are also making the process more time-consuming. In some areas, the regulators are finding themselves developing solutions and filling holes for which the industry itself has no widely accepted practice.