Basel harmony still a long way off, notes IIF

Dallara chaired a meeting of the IIF in Madrid last month, which was attended by a mix of regulators and bankers including Jaime Caruana, chairman of the Basel Committee on Banking Supervision, gathering to assess the new framework for the Basel Accord, released by the Committee at the end of last month. While there have been some successes, the meeting focused on a number of key unresolved issues (see box) and concerns over implementation, which continue to dog the process, more than a year