Basel II will not harm banks, says regulator


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 handicap American competitiveness.

"It is worth noting that the top 10 US banks hold twice the capital of the top 10 European banks – something like 6.7% to 3.0% respectively, and similarly hold twice

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