Banking chief dismisses Basel III speculation

Modifications being made to Basel II are sufficient to tackle the flaws in the framework and "we are certainly not going in the direction of Basel III", according to the chair of the standards implementation group of the Basel Committee on Banking Supervision.

Speaking at the British Bankers' Association's annual conference in London in early July, Jose Maria Roldan, who is also director-general of banking regulation at the Bank of Spain, admitted Basel II had its faults, but expressed his

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