Single bank capital accord for all banks is impossible, says Basel Committee chief

CAPE TOWN, SOUTH AFRICA – Differences between banking systems make it impossible to conceive of a single bank protective capital accord that would work for all banks in all countries, the world’s top international banking regulator said today.

“Rather supervisors may need to consider different approaches,” said William McDonough, chairman of the Basel Committee on Banking Supervision, the architect of the planned, and complex, Basel II capital accord aimed at making the world’s banking system safer.

As a result, the Basel Committee, the body that in effect regulates international banking and mainly comprises senior supervisors from the Group of 10 (G-10) leading economies, is launching a joint initiative with supervisors from many

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