The first of these papers, dealing with mergers and acquisitions, found virtually no statistical support for the view that either the level of, or changes in, excess regulatory capital have played a role in past merger and acquisition decisions, which suggests that any future effect of Basel II on such decisions is also likely to be quite small.
We considered all the possible negative outcomes that could be triggered by those actions. Ultimately, however, we did not hesitate, and would not hesitate to do it again, under similar circumstances. Banks must steer away from being used as conduits for ill-gotten funds.