FSA's McCarthy on challenges of Basel II

In the speech 'The challenge of Basel II for regulators' given on 18 September Callum McCarthy of the Financial Services Authority said that different regulators operate under very different legislative frameworks, and in very different political contexts.

"I am always struck by the enormous difference between the very strong political interest in Basel II shown in the US and that fact that it is not a political issue at all in the UK. And, while the British political (non) standing of Basel II

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