Regulators may need to abandon the traditional, mechanistic link between accounting and capital adequacy rules if they really want to try to fight banking crises.

监管者如果真的想去尝试战胜银行危机，或许需要放弃那些位于会计与资本充足率之间的传统的机械联系。

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MADRID (MarketWatch) -- European stocks rose on Monday, with banks leading gainers in the wake of clarity over capital adequacy rules and resource stocks firmer after strong data out of China.

欧洲股市周一开盘上涨，银行个股涨幅居前，规定资本充足率的巴塞尔协议。

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Many of the new-fangled instruments became popular because they got around financial regulations, such as rules on Banks' capital adequacy.

许多新奇工具的流行是因为他们可以绕过类似银行资本充足率一类的金融监管。

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Enforcement will be the real challenge, assuming that all the cumbersome legislation goes forward on financial conglomerates, pensions, new capital-adequacy rules, risk capital for small businesses, clearing and settlement, accounting standards and insolvency rules.

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And there could be a multiplier in respect of the creation of credit - because when banks lend via this form of so-called asset-backed finance, they are allowed by the capital-adequacy rules to allocate half as much of their precious capital resources as when providing overdraft loans.

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More generally, it is possible that having two sets of capital-adequacy rules will distort competition between Basel 1 and Basel 2 banks.

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