Resources for Basel II Capital Accord (Basel II)

Overhaul 'increases risk of recession'

www.telegraph.co.uk

Basel II - the revamp of the scheme under which banks arrange their balance sheets - poses "risks to the stability of the financial system", the Bank said in a paper.

On Monday debt collection and finance group London Scottish Bank warned it was considering scrapping its dividend and launching an emergency rights issue after breaching the regulatory rules, which came into effect yesterday.

The Bank argues that the updated Basel rules will make the financial sector more reliant on credit rating agencies for assessing how much risk to apply to its assets and liabilities.

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