Former US regulators criticise advanced approaches to Basel II
The US is unlikely to implement Basel II in its current form, with the country's banks instead applying a reworked Basel I framework, several former regulators have concluded.
Testifying before the Senate Banking Committee on May 6, the Federal Deposit Insurance Corporation (FDIC) chairman, Sheila Bair, told congressmen many of the concepts inherent in the Basel II advanced approaches resulted in reduced capital requirements. "In hindsight, it is now clear the international regulatory community
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