We want to ensure that the minimum regulatory capital levels for each institution and in the aggregate for the group of Basel II banks provide an adequate capital cushion consistent with safety and soundness. It is also helpful to remember that the QIS4 exercise was conducted on a best-efforts basis without close supervisory oversight.
It was just one step in a progression of events leading to adoption of the Basel II framework. It is certainly the case that as we move closer to implementation, supervisory oversight of the Basel II implementation methodologies by our examination teams would increase.