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Around 30 Principles, Consultation Papers, Reports and Working Papers including enhancements to Basel II framework have been issued by the Basel Committee of Banking Supervisors (BCBS) since June, 2006. In the United States, the Obama administration has proposed "Financial Regulatory Reform - A New Foundation" which is being positioned as a comprehensive restructuring of the regulatory landscape. In Europe, the Committee of European Banking Supervisors (CEBS) has also issued a number of consultation papers and principles for addressing various loopholes in the existing regulations for banks.
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