Not all negotiations or discussions involved all nations affected by the proposed new regulations. After the regulations were approved through the Basel process, it was up to each national regulator to apply them with their own adjustments. This has, understandably, led to misapplications, with or without intent, in several markets. On the one hand, the Basel Accords have contributed significantly to the stability of the international banking system, with notable results. On the other hand, unfortunately, although predictably, they have also given various financial market players the incentives and means to evade regulations. These behaviors have led to a new set of financial risks in the markets. Global financial