Mon, Dec 5, 2016
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. M&A - AllianzGI to acquire Sound Harbor Partners, SS&C completes acquisition of Wells Fargo's Global Fund Services business[more]

    AllianzGI to acquire Sound Harbor Partners Allianz Global Investors (AllianzGI), an active investment manager, announced that Sound Harbor Partners, a US private credit manager led by Michael Zupon and Dean Criares, have agreed to join its fast-growing Private Debt Platform. Under the te

  2. Europe - UK investors to pay more tax on money in offshore funds, Do you want to hand your money to super-algo or a Swiss banker?[more]

    UK investors to pay more tax on money in offshore funds From FT.com: Hedge funds in Dublin and Luxembourg are set to be hit by new rules that will force UK investors to pay more tax on the money they hold in offshore funds. As part of the government’s Autumn Statement on the country’s fi

  3. Hunt for yield pushes more investors into riskier assets[more]

    From FT.com: Pension funds and insurance companies have increasingly embraced riskier assets in their hunt for higher returns over the past five years. Alternative assets such as property, infrastructure, private equity and hedge funds have been bought up by institutional investors in a world where

  4. People - Nectar Financial hires senior investment team, Texas A&M replaces retiring foundation investment chief, Ex-Cadwalader partner Woolery makes another sudden exit, How to become a Python coder at a top hedge fund, by the co-CTO of Man AHL[more]

    Nectar Financial hires senior investment team Nectar Financial AG, a Swiss financial technology company for wealth and asset management, has announced that it has hired two key senior leaders to spearhead its digital asset management efforts. The company also announced that it has entere

  5. Activist News - Cognizant has introductory discussion with activist investor Elliott; to review letter, Starboard Value makes huge investment in Hewlett Packard, Hedge fund calls for removal of First NBC Bank CEO[more]

    Cognizant has introductory discussion with activist investor Elliott; to review letter From Indiatimes.com: Cognizant said it had an introductory discussion with Elliott Management after receiving the activist hedge fund's letter asking for a board shakeup, a buyback, a dividend and chan