Ingves deflects criticism of ‘complex’ Basel III framework

Photo by David Lundberg
David Lundberg

Stefan Ingves, the chairman of the Basel Committee on Banking Supervision, today hit back at critics of the Basel III framework, saying it was "naïve" to think banks could be regulated using simple rules.

Ingves' comments follow a testimony on January 21 by Andy Haldane, executive director for financial stability at the Bank of England, who said regulators were struggling to police "this complex beast" – the banking sector. Haldane said risk weights applied to capital requirements were too

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