The proposed calibration is such that long-term risk is constant but confidence levels are relaxed in situations where Basel II tends to act procyclically. What the two mentioned approaches have in common is that the risk-sensitivity of Basel II is retained – a prerequisite for any sensible adaption of Basel II.
3.3  Systemic risk control  Apart from observed stress in single financial institutions and market segments, the financial crisis has had a systemic and global dimension which has highlighted the fact that it is not enough to safeguard the stability of each bank individually.