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Alternative Market Briefing

Banks on again off again with Basel III

Monday, December 17, 2012

Bailey McCann, Opalesque New York:

Banks and the countries they reside in, seem to be in an on again, off again relationship with Basel III, the international capital requirements standard devised by the Bank for International Settlements (BIS), to ensure that banks the world over will have sufficient capital on hand to stave off the financial chaos that ensued in 2008. In the US, the new rules were supposed to go into effect in 2013. However, following a congressional hearing, rules were delayed for the foreseeable future. Now, even as several other countries including China announce they are on track for 2013, the Europeans are considering a delay.

In November, subcommittees of the House Committee on Financial Services held a hearing to discuss the impact of Basel III rules on the US banking system. In that hearing, Senators expressed concerns that the models used to determine capital and risk targets were 'arcane' and unlikely to meet any of their objectives. According to US regulators, the 'wide range of views' surrounding Basel III and its potential effects n......................

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