Caruana calls for more banking industry support for Basel II

Speaking at the International Swaps and Derivatives Association's annual general meeting in Barcelona this morning, Caruana said the Basel Committee wanted to begin a recalibration exercise this autumn.

"We recognise that these tests and reviews will demand resources from both banks and supervisors. Yet I must emphasise that neither banks nor supervisors will be able to evaluate the calibration of the new framework - and hence its effectiveness - if banks do not participate fully and seriously in

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