A bank that tries to do that will either gain market share at the expense of more prudently run banks, or else force the other banks to follow suit, thereby lowering standards for all. To some extent, what is true of individual banks can also be true of jurisdictions.
And so the Committee took the view that there was a collective interest in agreeing to a set of minimum standards to be applied by all its members. 1  That is, Australia participated officially as a member of the committee. 2  There were an additional 12 pages of annexes.