An important observation is that these levels refer to the new definitions of capital adopted by Basel III whereas the previous calculations on the capital ratio are based on the current definitions of capital and risk weighted assets.
The Quantitative Impact Study carried out by the BCBS highlights in this regard that the combined effect of the changes in the new concepts of the regulatory capital and the risk weighted assets is equivalent, on average, to a 5.6 percentage points decline in capital ratios under present definitions before Basel III.