Critical voices
The final Basel II framework has been welcomed by banks, regulators and industry bodies around the globe, but there are still some concerns about certain aspects of the Accord. Bob Pickel, chief executive of Isda, gives the association's views on the new framework.
The International Swaps and Derivatives Association (Isda) has criticised the number of national discretion items in the final Basel II framework, arguing that it may lead to inconsistencies in implementation from country to country. It’s an area that has prompted significant criticism from global banks over the past year, which have been worried that inconsistent implementation in different jurisdictions may increase the complexity and costs of Basel II. While it’s important that the framework
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