Another Basel chapter closes


After three years in office, Jaime Caruana is to step down as chairman of the Basel Committee on Banking Supervision. Since May 2003, he has divided his time between Basel in Switzerland, where he oversaw the completion of the Basel II capital adequacy framework, and Madrid, where he has been governor of the Bank of Spain since 2000.

His term as governor, and hence his tenure as chairman of the Basel committee, ends on his retirement on July 1 - just six months before the scheduled implementation

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