Video: New York Fed’s Marc Saidenberg denies US go-slow on Basel II implementation
The US is introducing Basel II at a similar pace to international peers and is also committed to timely implementation of Basel III, according to Marc Saidenberg, senior vice-president of bank supervision at the New York Fed, who warns of the dangers of banks arbitraging rules on risk-weighted assets
Marc Saidenberg, senior vice-president of bank supervision at the Federal Reserve Bank of New York, says the US has implemented Basel II on a timeframe consistent with other international partners. "We have taken the approach of a strong supervisory overview of firms adopting Basel II particularly where capital is dependent on firms' internal measure of risk, which has been characterised by some
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