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International Financial Co-Operation

Political Economics of Compliance with the 1988 Basel Accord

The Basel Accord - now commonly referred to as "Basel I" - has exerted a profound influence on international financial politics and domestic prudential financial sector regulatory policy yet great controversy has always surrounded the Accords impact on the safety and competitiveness of the worlds largest financial institutions and the evolution o

Capital was now being viewed as an instrument for maximizing shareholder value, rather than simply a balance sheet cushion against counter-party default.71 Bank managers argued that the Accord has made them overcapitalized and this was ...