a. Voluntary programs for lending institutions
A scheme encouraging lending institutions to voluntarily meet the liquidity standards could be implemented. This scheme would offer a nonbinding set of policy suggestions that seek to reduce lending ratios pursuant to the proposed capital liquidity requirement. The lending institutions would be drawn into such a scheme by creating a knowledge sharing environment, where information relating to banking practice can be shared. It is, unclear how such a scheme would exactly entice the first institutions into this particular program. Those entering the program first would have to share their knowledge to gain extra members and, therefore, have everything to lose. Furthermore, more uncertainty surrounds how this particular scheme differs from the present predicament. It was only after the liquidity requirements became voluntary in the 1980s that these institutions adopted irresponsible lending policies (Thorhallsson, 2011: 324-336).