Pillar II implementation still key


"We have to work with a global network of countries for successful implementation of Basel. But for it to work, it is Pillar II that is key, however the wide range of regulatory practices across Europe remains a challenge for Pillar II implementation," said Seal.

Seal spoke of the need for EU regulators to adopt the same pragmatic approach to co-ordination and co-operation as they had undertaken within the EU.

"There will be a strengthening of the global financial system as a result," she said.


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