Cutting the Gordian knot
Basel II remains wedded to incremental extensions to the market risk rules. It is time for a bolder approach in this area, argues David Rowe
Developing a uniform set of capital requirements applicable to the diverse range of banks around the world is no easy task. Once specifi c requirements complete the tortuous vetting process and are implemented, there is understandable reluctance to alter them at a later date.
During most of the period of debate around Basel II, the expectation was that it would leave the market risk rules untouched
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