Regulator hits back at Basle II critics
LONDON -- Much of the complexity for which the Basle II bank capital accord is criticised is the inevitable result of three highly desirable features of the pact -- namely, risk sensitivity, wide applicability and the shifting of the task of risk measurement to banks from regulators.
That was the view expressed in February by Andrew Crockett, general manager of the Bank for International Settlements (BIS), the Switzerland-based umbrella group for the world’s central banks.
The job of making Basle
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