Czech governor casts doubt on Basel III
Miroslav Singer says he is ‘very sceptical’ about the shift to a new Basel capital accord
Basel III is not much of an improvement on its predecessor, Czech National Bank (CNB) governor Miroslav Singer has told Central Banking Journal, as it fails to address issues around supervisory culture.
Culture was "more closely linked" to the last financial crisis than supervisory rules were, he argues in an interview published in the November issue of the Central Banking Journal.
In the wake of the crisis, policy-makers have been focused on forcing banks to hold more and better quality capital
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