Fed governor testifies on Basel II

Federal Reserve governor Susan Schmidt Bies testified on 10 November before the US Senate committee on banking, housing, and urban affairs on the implementation of Basel II and revisions to Basel I.

"Our support for Basel II stems from the belief that it would provide a much better measure of minimum regulatory capital at the largest, most complex institutions, aligning capital with risks to which these institutions are exposed", she said.

"We also believe that Basel II would bring about

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