That is a considerable advantage for the industry, but is that everything? Is it not the case that the industry not only benefits from cost savings but can also make direct use of the micro data? Can statistics be jointly compiled by the industry and the central bank on a voluntary basis in order to increase benefits and reduce costs?
If the Basel interest rate risk standards had been in place, this would have raised a number of red flags, causing the supervisor to intervene. But the Basel standards were not in place. Why not? Because the US did not implement these standards for smaller banks. Banks with less than 700 billion dollars in assets.