Two speeches; two very different views of Basel II in the US

Comparing the views of two US banking supervisors shows just how close the US is to reaching an impasse over Basel II.

In her last speech as a member of the board of governors of the Federal Reserve System, Susan Schmidt Bies again advocated a move forward with the proposals to implement Basel II in the US to members of the Global Association of Risk Professionals. “We need a more risk-sensitive capital framework… and we believe Basel II is such as framework.”
Bies also praised the GAO report and stated that it should help to push the process forward. She encourages audience members to respond to the Basel II

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