The binding force of the rules can also be diminished if there is the impression that they are not being strictly interpreted by the  BIS central bankers’ speeches  5  Commission. And the assessment procedure gives the Commission greater and more discretionary leeway.
Metaphorically speaking, we need to make sure that the Commission does not go beyond its role as a referee and move the goalposts mid-game. Based on past experiences it is clear to me that stiffening the rules alone won’t suffice to enforce the principle of individual responsibility. At its core, this principle requires that sovereigns, banks, and investors bear the consequences of their decisions.