Concern grows over Basel II in US

US congressmen have questioned the effectiveness of Basel II risk modelling, and complained that it puts US banks at a disadvantage. At a Congressional hearing on the regulatory proposals for the Basel Accord held by the House Committee on Financial Services, representative Spencer Bachus said: "The US interpretation of the Basel rule is less sensitive to risk than the international version of the accord."

Bachus added: "As I understand it, despite the US implementing Basel II differently from

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