ECB defends Basel II against US Treasury plans

LONDON – European Central Bank (ECB) officials have sprung to the defence of Basel II after the US Treasury called for “a new international capital accord”.

ECB council members Christian Noyer and Nout Wellink said planned enhancements to Basel II – by the Basel Committee and at European Union level – were improving the Accord, but more work was still needed.

The US Treasury paper, released on September 3, calls for a replacement to Basel II to be agreed by December 31, 2010, and implemented in

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: