Not all negotiations or discussions have involved all nations affected by the proposed new regulations. Once regulations were adopted under the Basel process, it was up to each national regulator to apply them with their own adjustments. This has naturally led to inappropriate applications, with or without intention, in different markets. On the one hand, the Basel Accords have greatly contributed to the stability of the international banking system, with remarkable results. On the other hand, unfortunately and predictably, they have also given different players in the financing market incentives and means to evade regulations. These behaviors have led to a new set of financial risks in the markets. Global financier