Flies in the ointment

Outstanding issues

Universal implementation
The Basel Committee on Banking Supervision’s quest for universal implementation of the Basel II capital Accord suffered a serious setback in February, when top officials at three of the US’s leading regulators, the Federal Reserve, the Office of the Comptroller of the Currency (OCC) and the Financial Deposit Insurance Corporation, indicated that they would only apply it to about a dozen or so of the country’s major banks – including bank holding companies in the US owned

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