Banks offer regulatory fix

The banking industry has developed a code of conduct to respond to the flaws highlighted by the global credit crunch.

The Institute for International Finance (IIF), a global trade body for the banking industry, on Thursday published the Final Report of its best market practices committee.

Josef Ackermann, the chairman of Deutsche Bank and the IIF, said that the report was not an alternative to the regulatory response set out by official institutions such as the Financial Stability Forum. "As

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