Basel action needed before ‘regulatory cycle’ turns

The Bank for International Settlements, home to the Basel Committee Ulrich Roth

It was a decade ago that a combination of global imbalances, US housing policy and new tools for financial leverage and risk transformation contributed to create the largest financial and economic crisis since the Great Depression. Since then, policymakers around the world have engaged in much soul-searching and some action to redress perceived weaknesses in the financial system and restore trust in financi