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Alternative Market Briefing

Basel III to be extended beyond 2018

Thursday, August 22, 2013

Komfie Manalo, Opalesque Asia:

Eli Combs, the Founder and President of Connecticut-based hedge fund, Meehan Combs, believes that the implementation of the Basel III will be extended beyond 2018 to allow banks to make the necessary requirement to meet the regulation.

Combs made the statement during the latest Opalesque 2013 Connecticut Roundtable that was sponsored by Eurex, Investor Analytics and Taussig Capital and took place in June 2013 in the Stamford office of Federal Street Partner.

"Our view is that Basel III will be extended. I think it has been extended to 2018 now and it will be extended past that," he said and added, "There has been a lot of talk about selling distressed portfolios from banks, and that should be a good opportunity for certain kinds of investors to buy those cheaply A lot of money has been raised for that, I think $80bn or something along those lines, but not a lot of transactions have happened. That is primarily because banks are overinflating the value of distressed assets and if they sell them, the distressed assets have to actually be marked where they really should be marked."

He explained that in order for ......................

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