Ratings agencies have already been warning about the prevalence of Tier 2 capital in Italy, Germany and Austria since the first Basel III draft was unveiled in 2009.

自2009年巴塞尔协议III首次还未公开时，评级机构已经对在意大利，德国和奥地利二级资本的盛行提出警告。

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After the third annual review, if the proliferating person were still proliferating or had failed to correct, within reason, its prior violation, the President would maintain the existing sanctions imposed the year prior and impose at least one additional measure from Tier III.

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This will create additional problems for the banks in terms of their required BASEL III capital tier ratios as they will be systematically reduced.

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This creates additional pathways for the flow of ECB funds into the marketplace to address the problem and will also allow more time for the issues of solvency to be addressed as the collateral issues for capital tier ratios and Basel III still will persist.

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