Also, the Accord has effectively contributed to enhanced market transparency, to international harmonization of capital standards and thus, importantly, to a level playing field, within the G-10 countries and elsewhere. Indeed, virtually all non-G-10 countries with international banks of significance have introduced, or are in the process of introducing, arrangements similar to those laid down in the Accord.
These are achievements that need to be preserved. 3. It is often said that the Accord was designed for a stylized (or simplified) version of the banking industry at the end of the 1980s and also that it tends to be somewhat rigid in nature.