The 1990s were characterized by substantial financial sectorconsolidation across a large number of industrializedcountries...

Bank supervisors have long recognized two types of shortcomingsin the Basle Accord’s risk-based capital (RBC)framework. First, the regulatory measures of “capital” maynot represent a bank’s true capacity to absorb unexpectedlosses. Deficiencies in reported loan loss reserves, forexample,...

I am very pleased to be part of this forward-looking conferenceon developments in capital regulation. Because thepurpose of capital is to support risk, I decided to approachthis session from the viewpoint of someone leading aninstitution that depends, for its success or failure, on howwell it...