Letting national regulators keep their existing Tier 1 capital definitions creates a collective action problem: countries with stricter definitions appear to have less capital and thinner cushions than countries with broader ones.
Source quote, verbatim
This creates collective action problems. A country that uses stricter definitions of Tier 1 capital could appear to have less capital and thinner capital cushions than banks in countries with broader definitions for Tier 1 capital.
The quote above is an exact substring of the source PDF, whose sha256 is 9d578dac663357529edd1f6453fcfe69bdc59ac882408d9edfde5a4c2916befa. Extraction method: pdf-text-layer. Attestation record: colloquium/attestations/51e69a33d3abfa71...json Verify the binding yourself: curl -s https://wulfkaal.github.io/claims/1908473-013.md | sha256sum