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Spain's Caruana on Basel II

In a speech given on 16 March Jaime Caruana of the Bank of Spain said Basel II represents a great opportunity for the EU to lead the way on international convergence, and I hope that we can seize this opportunity.

"Coming back to the points I made earlier, even considering the ongoing work on trading activities under Basel II, I believe that the vast majority of efforts being undertaken by banks and supervisors alike today related to Basel II are focused on implementing the very good rules that

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