OCBC's Conner warns of Basel III downside

New rules that require banks to hold more capital don't address the problem of lax credit checks that caused the recent financial crisis, OCBC Bank chief executive David Conner said yesterday in a pointed criticism of the Basel III guidelines announced last month. He was speaking at a seminar on governance and ethics in the financial sector, [organised by the Sim Kee Boon Institute for Financial Economics] at SMU.