The down-side of this arrangement is the degree of possible tunnel vision since  8  BIS Review 114/2008  most of the sub-committees arose out of Basel II Accord, which now appears needs some modification in light of recent events. One issue is global acceptability.
Most of these groups, even the International Liaison Group – that with the widest representation – falls short of international representation, of an organisation like the IMF with 185 members. The question is, how much is lost in terms of global stability by the exclusion of these countries?