IIF makes further demands of Basel Committee

The Institute of International Finance (IIF), a Washington, DC-based trade association of more than 350 banks, has sent a letter to the Basel Committee on Banking Supervision asking for further concessions in the final Basel II document.

In the letter Daniel Bouton, chairman of the steering committee on regulatory capital as well as chairman and chief executive officer of Société Générale, said the Basel Committee should consider further key changes to its approach to the calculation of expected loss (EL) versus unexpected loss for the credit risk capital charge. The letter states: ‘The IIF specifically recommends the Basel Committee expand the concept of EL offsets to include not only provisions but rather ‘all financial

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