This week, the Basel Committee on Banking Supervision convened its policy development group in Madrid, with a lengthy to-do list.
The publication of Basel III in December marked the end of a years-long effort to finalise post-crisis reforms of the regulatory capital framework – accompanied by a prolonged lobby battle by the industry. But for one aspect of the rules – the revised market risk framework – the battle is just beginning.
Critics claim Basel has yet to fully address concerns with two
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