Market divided over future of Basel II

BRUSSELS - The future of Basel II, and the various pieces of domestic legislation and regulation that enact it, is under review after the market crisis that pummelled financial institutions during September and October. Some experts believe the entire Basel II edifice could be torn down and reconstructed.

"We could argue about whether Pillar I created systemic risks, but the reason governments are stepping in is precisely to move away from any self-regulating tendencies," says Philippe Carrel

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