Global supervisor to review banking market woes

LONDON : The main global committee of banking supervisors is to review the recent turmoil in the financial system to see what lessons can be learn and whether any regulations need tightening.

The Switzerland-based Basel Committee on Banking Supervision said in a statement on Thursday it had met on 22–23 March in Hong Kong, “to take stock of recent market developments and risks to the global banking system and related vulnerabilities, and to discuss a range of policy and supervisory initiatives.”

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