Basel part two: the jury's verdict

"A welcome refinement" - Peter Gleysteen, chief credit officer, JP Morgan Chase

We are encouraged by this new direction. The central criticism of the 1988 Accord was that it was a blunt instrument, and refinement is welcome. But our concern remains that, as with any global regulatory initiative, it will be too generic, with one size not fitting all.

As a large firm, we benefit greatly from a sound, well-regulated financial system. The question is whether the regulations advance that cause

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