Banks around the world are struggling to prepare for Basel II. The new Accord affects almost every part of them, so it is a gigantic task for any organisation to get its hands around.
But that is precisely what banks are trying to do today – attempting to solve the whole problem at once. That is incredibly difficult to do, so what happens is different groups work on their particular aspects of the problem, and no-one can see the whole picture.
Meanwhile, they all hope that when the dust settles,