DAVOS, Jan 26: Brazil’s central bank chief Henrique de Campos Meirelles said on Saturday the time was now right for a review of the international Basel II framework on how much capital banks should hold to match risks they face.

Meirelles told a press conference that after a discussion with banking regulators and central bankers at the World Economic Forum in Davos that a rethink of Basel II was appropriate.

“It’s a good time now to review Basel II,” he said.

Brazil chairs the Group of 20 of developing and developed nations in 2008.—Reuters