Basel 2.5: US ratings workaround criticised

Workaround woes


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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