Basel I will stand the test of time, Says Schmidt Bies
Basel I will remain appropriate for most US banking organisations for years to come, says Susan Schmidt Bies, member of the board of governors of the Federal Reserve System.
Speaking on June 7 at the American Bankers Association (ABA) Chief Financial Officers Exchange Conference in Chicago, Illinois, Bies said she saw no reason to replace the Basel I-based regulatory framework, which is being used by the majority of the American banks, with a complex framework similar to Basel II.
"The Basel I-based framework has evolved modestly over time in response to market developments and to address safety and soundness-related issues. With occasional continued
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