The final version of the Basel II capital accord has been criticized by the Institute of International Finance (IIF), the global association of financial institutions, over concerns that its proposed implementation across international markets will not be sufficiently consistent.
Although the IIF commended the Basel Committee for showing ‘intellectual leadership’, IIF Managing Director Charles Dallara added: “The Basel Committee clearly recognizes that smooth collaboration between the home and host supervisors of each institution is crucial for the Accord’s success, as is good international coordination on all implementation issues.
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