Basle II may not suit emerging economies, says US central banker


WASHINGTON -- Rules embodied in the Basle II banking accord may be inappropriate for banks in emerging-market economies because a country may have unique circumstances, a senior US central banker said in December.

Laurence Meyer, a member of the Board of Governors of the US Federal Reserve System, noted that the Asian financial crisis of the late 1990s prompted an international effort to create standards and codes to improve practices in the economic and financial policies of emerging-market

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