At the same time, we all believe that there must be competitive equity, and that banking systems must be well-enough capitalized to be stable. As I noted earlier, perhaps pillars II and III and market realities will blunt the problem of excessively low capital. But you will understand, and I hope respect, our need for caution. BIS Review 85/2001  5  IV.
Summing up  I am sure of one thing: The next Accord will be imperfect no matter how hard we all try. The challenges are daunting, and I doubt we can meet them all at the outset.