UK watchdog won’t pressure banks on advanced Basle II approaches


LONDON -- The UK’s principal financial market watchdog won’t pressure banks to adopt the advanced approaches to measuring risk under the Basle II banking accord, Financial Services Authority (FSA) managing director Michael Foot said in late May.

"There will be no macho pressure from us as supervisor to persuade banks to attempt what they judge is not in their commercial interest," he told a London conference on operational risk organised by City & Financial Conferences.

Foot said the FSA had

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