US Congress tries to tame Basel II

The bill, say regulatory sources, is a direct reaction to the controversy-filled hearings that the House held at the end of February. The bill, if passed in its current form by both the House and the Senate and signed into law by the president, would establish an inter-agency committee, give Congress final say on US negotiations with the Basel Committee on Banking Supervision, and demand a report from the US regulators before any new regulations are put in place.

The February hearings, title

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