US official questions Basel III's ability to be effective

04/9/2013 | Wall Street Journal, The

US Federal Deposit Insurance Corp. Vice Chairman Thomas Hoenig, speaking in Basel, Switzerland, questioned the Basel III capital regime, saying the rules would fail to meet their goals. "All of the Basel capital accords, including the proposed Basel III, look backward and then attempt to assign risk weights into the future," he said. "It doesn't work."

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