“Subject: Monitoring Basel 2/CRD capital requirements. …… 2. The FSA together with other regulators is interested in the question of the sensitivity of capital requirements to macro-economic conditions under the new regulatory framework, i.e. the fact that capital requirements may increase in a recession (where the quality of lending deteriorates and credit losses materialise) and decrease in a boom (where the quality of lending improves and fewer losses occur)1. 3. The greater sensitivity of capital requirements to the cycle under the CRD/Basel 2 is a concern to financial regulators insofar as it may affect banks’ lending behaviour. Typically, less credit would become available in a recession, where risks and capital requirements are higher (credit crunch). Conversely, excessive lending in a boom could quickly erode capital buffers in a subsequent downturn (with consequences for the soundness of the financial system). Capital buffers held by banks over and above the requirement and, more generally, banks’ capital management policies are key factors affecting the final outcome.”

MoD orders a replacement for the landrover that costs £600,000.00 each and has been rejected by the USA as unsuitable as it does not fully protect the occupants. Meanwhile the USA buys a better vehicle for £300,000.00.

YOU JUST COULD NOT MAKE IT UP COULD YOU

http://therantingkingpenguin.blogspot.com/2009/07/curse-of-mcbroon-strikes-again.html

The Penguin

I can’t wait.

Yeah, I’m willing to bet you’re a dopey cυnt.