US plays catch up on Basel II

The Federal Reserve's Randall Kroszner noted that while may countries are implementing Basel II, US regulators are still finalising the rules.

Speaking at an event organised by the New York banking association, Kroszner suggested that the US was falling behind on implementation: "Many countries around the world are already tailoring and implementing Basel II in their jurisdictions, while the US banking agencies are in the process of finalising their rules for implementation," he said.

"A key

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