Much of the debate revolves around the degree of efficacy of the unconventional instruments, particularly large-scale asset purchases, and particularly whether there might be diminishing returns to these purchases in some circumstances. I am certain that analysis of these issues will continue not only in the near term, but also in academic circles for years to come.
A second benefit is that for entities operating internationally, the rules are more consistent across the countries in which they conduct business. Thus, the rules are more easily understood and implemented. 2/4  BIS central bankers' speeches  For supervisors, the benefits are quite obvious. By working together, we help establish good regulation.