Is the Basel Committee on Banking Supervision building an effective set of capital rules, one that will accomplish the goal of competitive parity?
Or are the rules being drafted by U.S. regulators to implement the Dodd-Frank Act a better way to go? Even if the answer were no, does the U.S. want two sets of capital rules? Our own and Basel's? Does that make sense or is it a case of, as one banker put it, "belts, suspenders and a noose."