Banks' risk models must be addressed, Carney tells G-20

09/6/2013 | Bloomberg

Financial Stability Board Chairman and Bank of England Governor Mark Carney calls for a more unified approach to risk models and pushes nations to complete revision of banking rules in a letter to Group of 20 leaders. "The risk models that banks use to calculate their capital needs show worryingly large differences," he wrote. "This must be addressed for depositors, investors, clients and authorities to have full confidence in the strength of bank balance sheets and their resilience during a downturn."

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