To that extent, an adequate cushion of capital can to a certain extent make up for shortcomings in risk identification, measurement and control. BIS Review 18/1998  -5-  VII To come back to the original question: I am in favour of an evolutionary solution. The Basle Accord should be modernised and not - at present - be replaced by other concepts.
There are indeed other approaches which are worth discussing, but at present I cannot identify any convincing alternative concept among them which would be operationally viable, practicable and superior to the Capital Accord.