FSA’s Turner outlines reforms needed in eurozone
Adair Turner, chairman of the Financial Service Authority, today offered his support to calls for a flexible Basel III approach, allowing countries to impose higher capital requirements as they see fit.
Speaking at the Central Bank of Ireland's conference on Financial Regulation: The Response to the Crisis in Dublin, Turner said a level of national autonomy should be retained in relation to setting capital requirement levels.
"Small countries with large banking systems, such as Ireland, need to
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