Fed's Ferguson defends US position on Basel

Speaking to delegates attending a PricewaterhouseCoopers Basel II conference in Brussels via a video link in Washington, DC, Ferguson said that on a parallel track with any new accord, member countries have to complete their own domestic processes. He said steps taken by US regulators should not be taken as a sign of the country’s lack of commitment to Basel II.

“Of course it is expected that other countries, and the European Union, will follow their own processes,” said Ferguson. “While our

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