Spain's Caruana on Basel II: back to the future

In the speech 'Basel II: back to the future' given on 4 February Jaime Caruana of the Basel Committee on Banking Supervision and Bank of Spain highlights the anticipatory and forward-looking elements of Basel II. The real value of Basel II, he says, will be best evaluated with the benefit of perspective.

"It may be that Basel II does not cover all the areas and refinements that are necessary to complete the framework for financial stability. It may be that Basel II raises new issues and requires

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