Basel Accord set to be softened

COMMENT - Discussions are under way within the Basel Committee on Banking Superision on how to lessen the impact of their new capital rules after complaints that the new accord would create impossible demands on banks during recessions.

The new Basel Accord is intended to create a single set of international rules defining how much capital banks around the world should hold against different types of assets. Under the previous 1988 capital accord, capital changes were based on simple, and inf