Letter. Worrying reduction of capital levels.
Financial Times. November 14 2007, .
Full text not available from this repository.
Sir, At first glance it might appear embarrassing for the Financial Services Authority that it recently granted Basel II IRB waiver to Northern Rock in June 2007. The impact of this was to permit Northern Rock to increase its gearing capacity as the capital requirement under IRB is significantly less than under the standardised approach.
Actions (login required)