Resources for Basel II Capital Accord (Basel II)

EU would have fared better with Basel II-regulator

investing.reuters.co.uk

New Basel II rules due in 2008 that supervise how much cash a bank must set aside to cover risk would have helped the European Union cope much better with the recent credit squeeze, a top regulator said on Tuesday.

"If we had had Basel II in this crisis we would have been much better off," Daniele Nouy, chairman of the Committee of European Banking Supervisors, told the European Parliament.

CEBS groups the EU's 27 national banking regulators.

Problems in the U.S. market for subprime mortgages to people with poor credit histories triggered a credit squeeze in the global banking sector. A bank in Britain and two in Germany had to be rescued.

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