Banks call for Basel III rewrite as QIS exercise ends

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Banks have until tomorrow to submit a 21-page, 3,000-row spreadsheet to the Basel Committee on Banking Supervision – and believe the results will cause a major rethink of rules the Committee proposed last December, or at least persuade it a fresh round of consultation is needed. "Now we've got the results there's a conviction throughout the bank that the proposals don't make sense and will therefore have to change. The rules as they stand are so extreme this can't possibly be where they

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