Basel Accord could be the model for investment firms and insurance companies

Basel II could become the model for the regulation of investment firms and insurance companies, according to Mario Draghi, governor of the Bank of Italy.

Speaking at a recent conference, Draghi asserted that the convergence of the three sectors of financial intermediation should reduce the risk of regulatory arbitrage and rationalise the management of financial conglomerates.

The supervisory review process, the second pillar of the Basel Accord, requires each bank to make its own assessment of the capital considered adequate in relation to its specific features and its risk exposures, while supervisory authorities examine and approve the

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