Compounding the problem, the diversity in banks’ capital ratios also indicates a dramatic distortion of the international playing field, as increasingly competitive conditions in financial markets have led to national discretion in applying the rules. Meanwhile, the opacity of capital indicators has made market discipline impossible to impose.
让问题更加复杂的是，银行资本比率的多样性也表明了国际竞争平台的重大扭曲——金融市场的竞争条件越来越多地给予各国应用规则的自由裁量权。与此同时，资本指标的不透明导致市场纪律无法起作用。