Bank for International Settlements Considers Sanctions Against Central Banks without Sufficient Regulatory Controls as a Result of BCCI Debacle

As a result of the huge losses suffered due to the collapse of the Bank of Credit and Commerce International, the Bank for International Settlements Committee on Banking Regulation is considering measures that would ban banks with headquarters in any country which did not enforce the new standards from operating through branches in the principal industrial countries. The Committee is considering other proposals as well…[more]