In addition to the Programme here in Russia, a Eurosystem programme on Basel II is under way involving the Central Bank of Egypt. A crisis response package covering banking supervision and financial crisis management is being conducted with south-eastern European countries. And technical assistance is being given to a number of would-be EU members.
Risk sensitivity in capital requirements can damp swings in credit availability, reducing both credit sprees and credit crunches. From a supervisory perspective, it seems clear that we prefer - or at least, ought to prefer - the regulatory capital ratios that convey more information.