Banks put themselves at risk in Basle

ARTICLE - The Basle committee on banking supervision is once again consulting banks over the impact of its draft new capital accord. Basle II will have an important bearing on bank lending within and between countries. Despite its good intentions, the final version is likely to be a retrograde step that will exacerbate financial instability.

First published in the Financial Times, 17 October. The writer, Avinash Persaud, is managing director of State Street and a professor of commerce at Gresham

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