Basle II set to increase bank demand for single-A debt

BASLE II UPDATE

LONDON -- The new Basle capital accord is likely to lead to increased demand by international banks for senior bank debt, the sovereign debt of industrialised countries and sovereign guaranteed debt that is rated single-A or lower by credit rating agencies.

The effect will be seen before 2004, the date the new accord comes into force, say analysts at Banc of America Securities, the European investment banking arm of Bank of America.

The cause of this increase in demand will be the changes to r

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