Restrictive Basel II is a “regulatory tax”, says ABA

The conservatism of the advanced internal ratings-based (AIRB) approach as proposed in the Notice of Proposed Rulemaking (NPR in the US) in unlikely to realise any actual benefits, the American Bankers Association testified to the House subcommittee on financial institutions and consumer credit.

In the hearing, ABA chairman Harris Simmons slammed the agencies’ proposals for creating a costly compliance burden. Harris argued that such a burden paired with artificially high capital requirements

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