Weber calls for broader scope to Basel III
Axel Weber, president of the Bundesbank, discussed Basel II requirements on Wednesday and said that while micro-prudential regulation had helped prevent individual institutions from failing during the crisis, a second line of defence with a more macroprudential approach against systemic risk was warranted.
At a speech at the International Conference on Financial Market Regulation in Berlin, Weber said the reform of the Basel II framework, while certainly part of the solution to the moral hazard
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