Even so, some bank trade associations have been very vocal recently over this initiative, calling it misleadingly this initiative “Basel IV”, implying that this would be a new version of bank prudential regulation Basel III (agreed in 2010-2011 with implementations phasing in between 2013 and 2019), when it’s only really a partial fix of well-known issues rather than new standards. These banks claim that this would be a move backward to a less risk-sensitive and hence less accurate approach and that it would increase regulatory capital requirements for banks and, as a result, lead to a decline in lending to the real economy.