Banking and Finance: Changing the Rules of the Game
The revision of the Basel Accord is designed to reduce systemic risk. But, says Anthony Fawcett, the proposals could dissuade banks from diversifying their risk in the capital markets
In early October it looked as if the plans to reform the Basel Accord 1988 might collapse amid acrimony between the US and Europe. However, the process was saved and is now back on track, albeit on a delayed timeframe in respect of publication of the final paper (now due in mid-2004). Banks are again concentrating their minds on the potential effects.
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