US baulks (again) at Basel II

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“What is released at the end of June by the Basel Committee is not what we consider to be a final accord,” said Tommy Snow, director of capital policy at the OCC in Washington DC. “It’s not Basel II with a nice neat bow wrapped around it.” The document, which members of the Basel Committee on Banking Supervision worked on for six years, “kind of sums up where things stand so far, but we know that there could be some changes coming about”, he added.

The US regulators have not always

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