The Federal Deposit Insurance Corporation (FDIC) vice-chairman Thomas Hoenig is calling for a simpler and more effective alternative to the risk weights prescribed by Basel III, in the latest edition of Central Banking journal out next week, as he believes the current set-up is open to exploitation.
"You can game Basel II and Basel III, and the fact is they are gamed in every instance," he says. "So let's adopt a system that is not as easily gamed. Let's make Basel standards a measure that is si
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