US regulators clash over Basel rules at Congressional hearings
WASHINGTON, DC -- US regulators are unable to agree on how effective they believe Basel's operational risk charge will prove in practice, and neither can they agree on how widely and strictly the charge should be implemented. These were the two inescapable conclusions of Congressional subcommittee hearings, held in late February, into proposals for revising the Basel Accord on bank capital. The regulators also established that a limited number of US institutions would be forced to adopt Basel II
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