US Basel II will not harm banks, says regulator

Divergence between the US plan to implement Basel II and the original version of the Accord being adopted internationally will not unfairly disadvantage American banks, a senior regulator has said.

Speaking at Oprisk USA, Martin Gruenberg, vice-chairman of the Federal Deposit Insurance Corporation (FDIC), launched a vigorous defence of the Basel II Notice of Proposed Rulemaking (NPR) released by the US regulatory agencies, by rejecting the notion that safeguards included in the proposals will

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