Resources for Basel II Capital Accord (Basel II)

Fed's Kroszner says financial turmoil shows need for Basel II bank reforms

www.forbes.com

The turbulence and instability which hit financial markets this summer helped demonstrate the need for and the value of the new 'Basel II' bank capital requirements and risk management rules, Federal Reserve Board Governor Randall Kroszner said today.

'Recent market events highlight why a robust and independent assessment of risk on the part of banks is so important,' Kroszner said in remarks prepared for the Standard & Poor's Annual Banking Conference in New York. He did not talk about monetary policy or the economic outlook in the text released to reporters in Washington.

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