McDonough paints brave new world of bank regulation
Echoing remarks made earlier in the week, William McDonough, president of the New York Federal Reserve Bank, stressed that the results of the third Quantitative Impact Statement (QIS3) being compiled at the moment show that few changes will have to be made to the next draft of the Basel Accord revisions, due to be released in May.
McDonough also gave a preview of where regulators thought banks would be focussing their energies during the run-up to implementation in 2006. He said that US banks that are
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