Bankers question Wellink’s claim on Basel III economic impact
Bankers question how the committee chairman can accurately estimate the impact of Basel reforms.
Claims by Nout Wellink, chairman of the Basel Committee on Banking Supervision and president of the Dutch central bank, that reforms to Basel II could cut global economic growth by up to 1 percentage point have been questioned by industry participants.
The estimate was made by Wellink in an interview with the Financial Times, published yesterday. Citing research by economists at the Dutch central bank, De Nederlandsche Bank (DNB), Wellink said the proposed reforms could cut global growth by
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