It takes time to repair balance sheets, to reduce excessive leverage and to unwind the asset market imbalances that might be left behind by a crisis; and it takes time to reverse the damage to trust and confidence.
In fact, on average, all proposed deviations together would more than halve the effect of the introduction of the output floor on banks' required regulatory capital, and even lower the required regulatory capital for some banks compared to the status quo. It is of particular concern that in some of the proposals these deviations are even suggested to be made permanent.