McDonough paints brave new world of bank regulation

Said McDonough, in a speech at New York conference, the new rules will not “introduce large changes in the aggregate amount of capital currently held in the banking system, while at the same time [providing] tangible incentives for banks to adopt the most advanced and sophisticated approaches to capital adequacy.”

McDonough also gave a preview of where regulators thought banks would be focussing their energies during the run-up to implementation in 2006. He said that US banks that are preparing

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