US “undermining” Basel II process

LONDON - A senior European banker has attacked the US delays in implementing Basel II and raised concerns about the adverse impact policy divergence may have on European firms.

Speaking in Athens at its annual spring meeting, Institute of International Finance vice chairman Cees Maas said: "We are concerned today about the slow pace in which a consistent, global regulatory capital regime is being put in place."

"In particular, we continue to encourage US banking agencies to revise their

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