Czech governor slams one-size-fits-all regulation
The right mix of regulation for advanced economies is not necessarily the right mix for everyone else, says Miroslav Singer, governor of the Czech National Bank (CNB).
On Monday, the CNB hosted a Basel Consultative Group workshop on the impacts of Basel III on emerging market and smaller economies (EMSEs). In his opening statement, Singer stressed that EMSEs should not be "passive recipients" of the "regulatory earthquake" spreading from advanced economies through the global financial markets.
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