Resources for Basel II Capital Accord (Basel II)

Global Revamp Urged For the Regulation of Markets

online.wsj.com

Global regulators must beef up cooperation to prevent a repeat of the worst financial crisis in more than 60 years, but more coordinated short-term actions, such as buying mortgage-backed securities, aren't yet necessary, said a top international financial official.

Malcolm Knight, general manager of the Bank for International Settlements, said the current turmoil is "probably the most serious financial turbulence in the advanced countries since the Second World War," and called for a retooling of oversight of the global financial system.

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