Fed's Gordy criticises Basel II procyclicality adjustment

Gordy, speaking in a personal capacity during his keynote address to Risk’s Credit Risk Summit 2002 USA in New York today, said while he favoured smoothing regulatory minimum capital as a means of dealing with the problem of procyclicality, he did not believe altering the advanced risk-based model approach – as currently favoured by the Basel Committee on Banking Supervision, the body overseeing the implementation of Basel II – was the best solution. Procyclicality is a term used to describe the

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