Basel II is a bonus for economic stability, says Greenspan
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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
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