In-depth oversight by the Basel Committee of implementation and compliance would allow supervisors from all member countries better to understand issues such as these. I suspect it would also result in supervisors learning from one another and thus improving the quality of large institution capital regulation globally.
Although, fortunately, Basel III does not present nearly the degree of technical challenge posed by the advanced approach of Basel II, there will still be a good bit of opaqueness in how some of its components are implemented and thus a continuing need for significant monitoring by the Basel Committee.