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US FDIC should phase in 'underdeveloped' parts of Basel III capital proposal, McKernan says

( December 12, 2023, 19:58 GMT | Official Statement) -- MLex Summary: The US Financial Deposit Insurance Corp. should phase in the "underdeveloped" parts of regulators' proposal to increase Basel III capital requirements for large banks, Republican FDIC Director Jonathan McKernan said. One part he cited was the profit-and-loss attribution test that would be used by banks to measure the extent to which their risk management models align with their front office models. Another "underdeveloped" design decision, he said, was the approach to non-modellable risk factors.  Statement follows below:...

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