Caruana on the Basel II capital accord

In a speech to the Institute of International Bankers conference in Washington given on 1 March, Jaime Caruana of the Banco de Espaa said the Basel Committee on Banking Supervision is on course to finish its work on the Basel II capital accord by mid-2004.

"We are well on track to resolve outstanding issues by the middle of this year," Caruana said.

"Both approaches are compatible with what we are doing with Basel II," he said.

"Europe has decided on some options, and the U.S. has restricted the

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