Basel II is a bonus for economic stability, says Greenspan

Speaking at the American Bankers Association annual meeting in New York, Greenspan specifically credited the proposed Basel II rules for global banking capital requirements as a bonus for economic stability. He said the improving bank practices – coupled with the new rules – hold out the hope of a safer and stronger banking system contributing to a more stable economy.

Greenspan, who described the US banking system as “strong, vibrant and profitable”, said it had come through the perilous per