They would have to go to securities dealers to purchase swaps and other derivatives for hedging purposes, something that has been done in the past without difficulty. Finally, it also seems improbable to me that any country should be willing or able to expand its safety net or to expose its taxpayers to the undefined risks of protecting ever-larger and more complex banking organizations.
2  A second major contribution of Basel I was that it created international standards for measuring bank capital. BIS Review 43/2006  1  In my judgment, these developments, on net, have provided significant benefits.