Even if, at heart, they take the Bagehot view, all bankers recognize that market confidence requires them to demonstrate a more solid capital base to attract wholesale funding, as well as to satisfy the stricter demands of regulators. But a wide gap has opened up between the financial authorities and the banks on the costs and benefits of the much higher requirements now demanded by Basel.
从根本上说，即使他们和白芝浩观点一致，也没有银行家不认为市场信心要求他们拿出更坚实的资本基础来吸引批发融资和满足监管者更严厉的要求。但金融当局与银行在关于巴塞尔所要求的大举提高资本要求的利弊方面出现了重大分歧。