Basel part two: the jury's verdict
Twelve risk experts and regulators assess the impact of the Basel Committee's proposals.
We are encouraged by this new direction. The central criticism of the 1988 Accord was that it was a blunt instrument, and refinement is welcome. But our concern remains that, as with any global regulatory initiative, it will be too generic, with one size not fitting all.
As a large firm, we benefit greatly from a sound, well-regulated financial system. The question is whether the regulations advance that cause
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