Basel Committee head credits framework with resilience
Nout Wellink, chairman of the Basel Committee on Banking Supervision (BCBS) and chief of the Netherlands’ central bank, said that Basel II has helped both financial institutions and systems become more resilient.
“Innovation has led to new techniques and tools for managing credit portfolios and this has been accompanied by increased complexity. The Basel Committee’s response has been to capitalise on the improvements in banks’ risk management systems to better address the complexity and innovation we see today.”
Wellink made the remarks at the Risk Capital Conference in Paris on June 27.
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