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Greenspan Urges Regulatory Shift from Capital to Risk Management
Beginning of article
CHICAGO -- Capital may no longer be king at the Federal Reserve Board.
Fed Chairman Alan Greenspan said Thursday that bank supervisors should be paying more attention to risk management systems at individual banks and less attention to their capital positions.
"At least part of the solution to the increasing complexity in bank risk positions may be to rely less on the writing of rules - such as capital regulations - that apply generally to all banks, and to concentrate more on the development of supervisory procedures that can accurately distinguish risks on a bank-by-bank basis," Mr. Greenspan said.
Increasingly, he added, the "basic unit of evaluation" in …
