Resources for Basel II Capital Accord (Basel II)

Treasury told to relax capital rules

www.telegraph.co.uk

The Chancellor, Alistair Darling, has acknowledged that the Basel-II set of rules for banks' capital ratios may need to be changed, amid suspicions that the set of accounting rules lie at the very heart of the credit crisis.
In a letter sent to Mr Darling just before Christmas on behalf of major British banks, Stephen Green, the executive chairman of HSBC, urged the Treasury to consider whether the framework, which affects the way banks draw up their balance sheets, was impairing Government efforts to kick-start lending to British businesses. The letter was also signed by the bosses of banks including Abbey and Barclays.

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