Basel 2.5: US ratings workaround criticised

Workaround woes

steve-tvardek

US supervisors made what seemed like an important breakthrough at the end of last year. Having been forced to delay full implementation of Basel 2.5 due to a Dodd-Frank Act requirement that forces them to remove any reference to credit ratings from their regulations, they finally came out with a proposed workaround in December – one that would allow US banks to implement the Basel 2.5 rules on securitisation and resecuritisation exposures, as well as other ratings-dependent elements of the Basel

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