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| VII. Co-operation with other supervisors |
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Proposal To Issue A Supplement To The Basel Capital Accord To Cover Market Risk
VII. Co-operation with other supervisors
24. The Committee is mindful of the fact that a level playing field is not achievable in the absence of consistent regulatory treatment of market risk for all types of players in all financial centres. This was the objective pursued before 1993 in the co-operative efforts of the Basle Committee and the Technical Committee of IOSCO. And this is the approach followed by the Capital Adequacy Directive which, at the European Union level, applies both to banks and securities firms. The Basle Committee hopes that its proposals will be read with interest by securities regulators and by the European Union and stands ready to co-operate in order to pursue the objective of consistent minimum international requirements.
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Proposal To Issue A Supplement To The Basel Capital Accord To Cover Market Risk
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