I spent many of my years as a regulator with FDIC and the New Jersey Department of Banking and Insurance. During that time, I was on the Basel Committee on Bank Supervision and was part of the Basel Ⅱ deliberations. I regularly argued for a Basel leverage ratio. So one may think that I would be wholeheartedly embracing a rule that was designed as "... a comprehensive set of reform measures to strengthen the regulation, supervision, and risk management of the banking sector," as the Basel Ⅲ rules have been described.
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