The Basel accord was designed to deal with a different problem: that big borrowers might default.

巴塞尔协议是设计成处理另外一个问题：即大贷款人会违约。

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The problem has been exacerbated by Europe's adoption of a complex Basel II methodology, which essentially lets bank managers use their own judgment in determining the riskiness of their assets.

欧洲采用复杂的巴塞尔协议II (Basel II)，进一步激化了这个问题——巴塞尔协议II事实上是让银行高管自己来确定资产的风险水平。

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The study by researchers at University Hospital Basel is not the first to note this problem.

巴塞尔大学医院的研究人员不是第一个注意这个问题的。

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At the same time, banks during the boom years were able to crowd out alternative sources of corporate funding thanks to the flawed Basel bank regulations and the implicit subsidy arising from the too-big-to-fail problem.

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