In a speech at the Global Financial Forum in New York, Lord Turner examined the three reform elements which he considers to be of particular importance: a macro-prudential approach, major changes to capital adequacy regulation and major changes in the regulation of liquidity. He said that the potential macroeconomic costs of tighter regulation for banks must be set against the benefits of lower risk to financial stability.
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Lord Turner, FSA Chairman expands on themes from his recent review of banking regulation "Building a more stable global banking system"
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