Regulators seek harmony on op resilience rules
Alignment on principles needed “in short order”, says Basel working group chair
Regulators have a generational opportunity to make the financial system more resilient to the kind of operational shocks engendered by the Covid-19 pandemic – but they need to be singing from the same hymn sheet when it comes to drawing up attendant rules to bind banks if the opportunity’s not to be lost, according to the supervisor charged with overseeing the push.
Arthur Lindo, deputy director for policy in the division of supervision and regulation at the US Federal Reserve, and the chair of
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