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Wednesday, November 14, 2007

Federal Reserve Corner: The Importance of Basil II

Federal Reserve Member Kroszner's speech yesterday at the Standard and Poors Conference was about Basil II, the new risk assessment standards that are being implemented. It is tough reading, but in the middle of the speech, the standards go to the heart of the risk of the CMO crisis, in that specific assets were not differentiated in detail under the former standard.

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