Fri, Feb 24, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Update: banks win on softening Basel III, global economy still losing

Wednesday, January 09, 2013

Bailey McCann, Opalesque New York:

In December, I reported on the recent announcement by both the US and the EU that they would need more time to implement Basel III, the latest round in regulatory risk management from the Bank of International Settlements(BIS). In the piece, we noted that even though US banks waited until the eleventh hour to ask for an ease in capital requirements proposed under the regulatory scheme, the response indicated some willingness to be flexible. On Sunday, following a meeting of bank governors, the BIS issued an announcement that said in essence, that the banks won. Banks now have until 2019 to become fully compliant with a softened Basel III - a move which will likely result in the rules becoming even more soft before then, as the world learns how unstable the banking system and global economy continues to be.

US banks have raised about half of what they would need to, to meet the capital requirements outlined under the previous rules. The EU, Brazil and the UK are also a bit short leaving primarily emerging markets and China, as those who were prepared to abide with the original January 1, 2013 implementation. The easing of these rules announced on January 6 includes expanded definitions of the quality and type of assets that can be counted to meet capital requirements in addition to the revised......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. People - Kuwait wealth fund head Al Saad said to step down after 14 years[more]

    From Bloomberg.com: Kuwait Investment Authority is set to name Farouk Bastaki as managing director, replacing Bader Al Saad who ran the world's fifth-largest sovereign wealth fund for 14 years, a person familiar with the matter said. The KIA, as the fund is known, is finalizing the appointment, said

  2. Investing - Hedge funds loading up on this dividend stock, The biggest hedge funds have been piling into bank stocks[more]

    Hedge funds loading up on this dividend stock From Incomeinvestors.com: Hedge funds are backing up the truck on Cameco Corp stock. Billionaire Jim Simons owns 389,000 shares. Other Wall Street titans - including Ray Dalio, Ken Griffin, and Chuck Royce - have been quietly building positio

  3. Legal - Fannie, Freddie shares dive after U.S. appeals court ruling[more]

    From Reuters.com: Shares of Fannie Mae and Freddie Mac tumbled more than 30 percent on Tuesday after a U.S. appeals court shut down efforts by hedge funds and other investors to pursue numerous legal claims accusing the U.S. government of seizing their profits following taxpayer bailouts. By a

  4. Institutional investors plan to raise allocations to alternative assets in 2017[more]

    Komfie Manalo, Opalesque Asia: A survey by Context Summits Miami showed that nearly 72% of institutional investors and family offices plan to raise their allocations to alternative asset managers this year, suggesting continued strong demand for the industry. "As many large, brand name f

  5. Comment - Mortgages, mergers and hedge fund fees, Fairholme's Berkowitz responds to court ruling against hedge fund suits of Fannie Mae[more]

    Mortgages, mergers and hedge fund fees From Bloomberg.com: Yesterday the U.S. Court of Appeals for the D.C. Circuit handed down an odd decision in a lawsuit over the government's nationalization of Fannie Mae and Freddie Mac. The key issue is what's called the "Third Amendment," the 2012