Basel's Wellink outlines vision for Basel II

Nout Wellink, the chairman of the Basel Committee on Banking Supervision and president of the Netherlands Bank, on Monday detailed the committee's plans to improve its much-maligned Basel II framework.

Speaking in Beijing, Wellink said that the group's work programme was "well advanced" and provided "practical responses to the financial stability concerns raised by policy makers." Many commentators argue the framework exacerbates the procyclicality of the business cycle.

Wellink indicated tha

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