NY Fed’s Dudley backs Basel III
William Dudley, the president New York Federal Reserve, on Sunday said the new Basel III standards would address some of the major shortcomings revealed by the crisis.
At an Institute of International Finance Annual meeting in Washington, Dudley said the tougher standards would require banks to significantly increase the amount of high-quality, loss-absorbing capital that they held; and significantly improve risk capture in trading, counterparty credit, securitisation and other activities that
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