Ingves says banking industry must acknowledge problem around risk weights
Industry has airbags in case of crash, Ingves says, but sensors must be correctly calibrated
The financial system has a much improved set of ‘airbags' in place to protect it in the event of another crash, according to Basel Committee chairman Stefan Ingves – but it must ensure the sensors are correctly calibrated to ensure they work correctly, he said today.
Delivering the keynote address to the 15th Annual Convention of the Global Association of Risk Professionals in New York, Ingves said the variation in banks' estimates of risk weights is "uncomfortably wide", and called on the
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