Report calls for US to implement Basel II
McKinsey report finds Basel II key for US to maintain market share
A report released by consultancy giant McKinsey calls for the US to implement the Basel II Capital Accord, as part of a drive to regain New York's competitiveness in the global financial marketplace. The city's mayor Michael Bloomberg, governor Eliot Spitzer and senator Charles Schumer have rushed out to endorse the report, which says that without action, the city (and the US) could lose out as financial services capitals.
In addition to signing up for Basel II, the report says the country needs
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