MADRID | By José Antonio Santos at Patrivalor | Does the proposed Basel III ratio need to be changed into a more realistic one? Federal Deposit Insurance Corp. Vice Chairman Thomas Hoenig believes all of the Basel capital accords, including proposed Basel III, look backward and then attempt to assign risk weights into the future, therefore don’t work. Regulators should focus on another measure of capital that more accurately reflect the capital position of banks: the tangible leverage ratio.