Banks call for Basel III rewrite as QIS exercise ends

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Banks have until tomorrow to submit a 21-page, 3,000-row spreadsheet to the Basel Committee on Banking Supervision – and believe the results will cause a major rethink of rules the Committee proposed last December, or at least persuade it a fresh round of consultation is needed.

"Now we've got the results there's a conviction throughout the bank that the proposals don't make sense and will therefore have to change. The rules as they stand are so extreme this can't possibly be where they'll come

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