US investment banks create myriad problems for Basel II
NEW YORK -- As financial institutions and banking regulators settle down to the challenge of implementing Basel II, a substantial problem has emerged for US investment banks. Not only will their overseas subsidiaries receive harsh treatment at the hands of Basel II, but their home regulator, the SEC, says it is not sure when it will release guidance on its own plans to implement Basel II within the US, leaving firms in the dark.
European regulators, such as the UK’s FSA, have already made it very
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