OTC MARKET NEWS Powered By Quantifi

Carney Says News of Basel's Next Big Wave Isn't Fit to Print 

December 2, 2015

Boris Groendahl, Bloomberg Business

Are the global bank regulators in Basel planning to release a salvo of new capital rules before the last round, known as Basel III, is fully in force? Not if you ask Mark Carney.

“There is no Basel IV,” Carney, governor of the Bank of England, told reporters in London on Tuesday. “I’ll say it again; I’d like you to print it. There is no big wave of additional capital. There are things that need to be done in order to clean up the system.”

Some bankers take a different view of the mass of regulatory work in the pipeline at the Basel Committee on Banking Supervision. “Basel IV is coming,” Laurent Mignon, chief executive officer of Natixis SA, said earlier this year, when the issue was raised on more than a dozen European banks’ earnings calls.

At the heart of this debate is the Basel committee, which meets Dec. 1-2 in New York with a full slate of major policies to discuss, including revising the standardized approach to measuring credit and operational risk. Read more

Comments are closed on this post.


Submit your email to receive our newsletter