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COVID hitting timing of Basel bank capital rules

COVID hitting timing of Basel bank capital rules

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Global Business Review Magazine
Thursday, March 23, 2023
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COVID hitting timing of Basel bank capital rules

COVID hitting timing of Basel bank capital rules

Countries are facing challenges in rolling out final elements of tougher global bank capital rules. A senior Bank of England official said that this may need to coordinate on timing. The rollout of the rules known as Basel III began after the global financial crisis. This had highlighted how banks were holding too little capital by forcing taxpayers to bail many of them out.

In Europe, banks have been lobbying to ease the rules. This is by saying that they need to focus on helping economies recover from COVID 19. BoE executive director for prudential supervision Victoria Saporta told an event held by the Institute of International Finance, said that they should get on and do it and not wait for anything. Central bankers and banking regulators from the European Union called on the bloc. This is to implement the remaining Basel rules in full and on time. The rules have already been delayed a year due to COVID.

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Saporta said that the BoE is working hard to set out how it wants to implement Basel III. But this may not be done by year end as hoped. Adding to this, their work on Basel III has been delayed somewhat by their responses to the pandemic. They are finding that the package is challenging. The BoE has taken account of how other jurisdictions also implement global rules like Basel. Their intelligence so far is that other major jurisdictions like the EU, the United States and others are also facing challenges. And so, they do think it would be ideal for the package to be implemented at a very similar time. So they are very open to coordinating with others.

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Data shows that US inflation cooling

Household wealth anticipation has declined, claim by global poll

Support measures push Japanese corporate bankruptcies to 50 year low

How is the bond yield controlled in Japan?

BOJ’s Kuroda signals readiness to extend pandemic-aid scheme

Policy takes the u-turn; BoJ’s yield curve may slip

Asia shares falls on worries over inflation, Fed outlook

Stocks are calm ahead of a possible CPI hurricane

Artificial intelligence to take on the Aviation industry too

Normalcy wished to revert to airlines after FFA blackout

Dollar dented as consumer sentiment dives

Dollar declines on expectations of weaker US rate increases and China’s resumption

Global Business Review Magazine

Global Business Review is a online print magazine focusing on the updates and information about on emerging markets, Finance, Banking, Technology. Global Business Review provides news, features, analysis, commentary, and interviews from industry across the globe.

Recent News

  • Household wealth anticipation has declined, claim by global poll
  • How is the bond yield controlled in Japan?
  • Policy takes the u-turn; BoJ’s yield curve may slip
  • Stocks are calm ahead of a possible CPI hurricane
  • Normalcy wished to revert to airlines after FFA blackout

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