The targeted approach of the BCBS in revising the capital framework of the Basel Accord was welcomed by the International Banking Federation, International Swaps and Derivatives Association, London Investment Banking Association and European Securitisation Forum. A number of issues relating to each of the three Pillars were raised by the response: concerns over pipeline and warehousing risks, sponsored transactions, the role of colleges, the scope of the guidance, the impact on bank capital, the impact on the broader economy and the definition of re-securitisation.
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