Does this mean that, in future, every community bank should apply internal models to estimate its risk of credit valuation adjustment in derivative positions? Of course not. International cooperation would reach beyond what is sensible. The Basel rules are highly complex and call for big compliance departments – something that is beyond the reach of a community bank business model, for example.
In countries like ours, developments in retail payments and their delivery channels can be effectively dove-tailed for bridging not only geographical  2  BIS Review 42/2009  gaps but also in terms of extension of financial activities and access to these activities to a wider section of society.