But, avoiding write-downs will do little to restore trust to a financial system that is sorely lacking it. But in spite of this, some banks like France's Société Générale refused to use the new rule.
The trouble with the new rules is that they pretend that the problem is not there because you cannot see it anymore but given today's sophisticated and efficient financial markets, investors will take their own call and incorporate their risk perception in the prices of equity and credit default swaps anyway.