Bank associations hit out at Basel II failings

Both the Institute of International Finance (IIF) and the International Swaps and Derivatives Association are concerned about the excessive amount of national discretion regarding regulatory capital.

“The ultimate effectiveness of the new Accord depends on how it is implemented in each country,” said the IIF in a statement. “The IIF, which has repeatedly stressed the importance of consistency of implementation across the major markets, noted that much remains to be done for Basel II to deliv

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