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Banking remains far too undercapitalised for comfort, Wolf

Senior officials argue that capital requirements have increased 10-fold. 
Yet this is true only if one relies on the alchemy of risk-weighting. 

In the UK, actual leverage has merely halved, to around 25 to one. 

In brief, it has gone from the insane to the merely ridiculous.

Martin Wolf, FT 21 September 2017

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