Basel Committee announces reform plans

The Basel Committee on Banking Supervision is set to revise elements of its Basel II framework as part of a raft of measures aimed at enhancing stability in the wake of the subprime turmoil.

"The committee are homing in on certain areas where the requirements did not fully represent the risks involved in these particular instruments," Patricia Jackson, a former member of the Basel Committee and an ex-head of the Financial Industry and Regulation Division at the Bank of England, told Central Bank

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