McCreevy pushes for Basle II reform

Charlie McCreevy, European commissioner for the internal market and services, has called for a fundamental rethink of the Basle II capital accords. McCreevy said in a speech on Tuesday that it is “very doubtful” that rating agencies should be part of the regulatory capital calculations and that overall, and “sub-set” forms of leverage limits should be introduced. EuroWeek finds out what it could mean for securitisation.