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.
European regulators, such as the UK’s FSA, have already made it very clear they will consider US investment banks, such as Morgan Stanley, Goldman Sachs and Merrill Lynch, as falling under the Basel II umbrella. Says an FSA official, "Any
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