Basel III could have softened crisis: BIS's Caruana
Empirical analysis shows events could have been very different had the Basel III framework been in place during the recent financial crisis, Jaime Caruana, the general manager of the Bank for International Settlements, said on 18 October.
Speaking at a seminar on macroprudential policy in Shanghai, Caruana said: "Banks would have faced the crisis with much stronger capital bases, and would have been better able to draw on them. The financial system would have been much better prepared to
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