Authorities need to deal with ‘limitations’ of global standards
BIS’s Fernando Restoy says global standards do not cover all possible risks
Post-crisis global standards are largely complete, but they have “fundamental limitations” that national authorities need to overcome, the Bank for International Settlements’ (BIS) Fernando Restoy said on February 19.
Global standards cannot go into the necessary detail to cover risks in all jurisdictions – they are generally limited to large, international organisations – and their practical implementation faces “significant operational hurdles”, said Restoy, who heads the BIS’s Financial
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