But the experience of the last half century clearly attests to how far the power of the idea of market freedom can carry. BIS Review 64/1997
While higher levels and quality of capital can mitigate some of this risk, it was widely agreed that quantitative liquidity requirements should be developed. The Basel Committee generated two liquidity standards: one, a Liquidity Coverage Ratio (LCR) with a 30-day time horizon; the  BIS central bankers’ speeches  3  other, a Net Stable Funding Ratio (NSFR) with a one-year time horizon.