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Banks Want Basel III Toned Down

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Banks Want Basel III Toned Down

by CFO Innovation Asia Staff, 09 November 2010
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Bank Borrowing/Credit Lines Finance and Banking
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Basel III capital ratio GDP
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HSBC and Standard Chartered are pushing regulators to rewrite Basel III which is scheduled to be phased in by 2019, reports the Financial Times.

 

Under the new rules, which were published in September, banks would be required to hold five times the amount of capital to back trade finance businesses. But trade finance providers warn that if the new rules are implemented, there would be a 2% fall in global trade and a 0.5% dip in global GDP.

 

According to the Financial Times, the Basel Committee on Banking Supervision, is "struglling to carve out special treatment for trade finance that would chime with its aim of reducing incentives for interbank lending."

 

MORE ARTICLES ON BASEL III

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HSBC and StanChart call for Basel III rewrite
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