The public comment process and transparency in our implementation process would provide added checks and balances. I would also like to emphasize that market participants are also expected to play an important role as Basel II is implemented. Not just supervisors will be expected to evaluate information provided by institutions.
As Basel II rolls out, bankers would be expected to disclose where their institution is in its stages of implementation, how the institution assesses and manages risk, and relevant information for third parties to ascertain the effectiveness of the bank's risk  2/4  management. Pillar 3 market discipline, therefore, will complement supervisory efforts to maintain adequate capital.