Supervisors risk mis-calibrating the Basel III package of changes to bank capital rules, thanks to a political rush to hasten implementation, warns Nico Meijer, chief risk officer at Bank of Montreal (BMO) Capital Markets.
"I would comment that this whole process has taken place within a highly compressed time frame. The process has become highly politicised and there's a high risk of mis-calibration," he said during Risk magazine's annual Quant Congress USA conference in New York.
While Basel I
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