Meeting today in Madrid for the second time under the chairmanship of Jamie Caruana, governor of the Bank of Spain, the Basel Committee has a full agenda. Not only must members decide whether to again delay the new capital accord, they also face a host of tough technical issues with threaten to derail progress.
However, deciding whether to again delay again implementation is the most contentious item on the agenda. As proposal and counterproposal have ping-ponged back and forth, the matter
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