In addition, we will do our best to promote extensive home-host communication on a continuous basis, not just in times of stress. Overall, the AIG effort should help to reduce home-host coordination problems considerably, but, as with Basel I, there will inevitably be bugs to work out as implementation proceeds.
During that shakeout period, some of your concerns may turn out to be real - although, I hope and expect that they will be less daunting or costly than you may fear. I have focused so far on credit-risk aspects of Basel II. On the operational-risk side, however, the home-host implementation challenges are knottier.