US congress tries to tame Basel II


WASHINGTON, DC -- Members of the US House of Representatives have proposed a bill that would place Congress firmly in control of the nation’s Basel II debate. The bill, say regulatory sources, is a direct reaction to the controversy-filled hearings the House held at the end of February.

The February hearings were notable for the strong attacks of selected industry representatives on the Basel II proposals, and the lack of unity among the Office of the Comptroller of the Currency (OCC), the

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