OTC MARKET NEWS Powered By Quantifi

RPT-FSB's Carney tells banks there is no "Basel IV" on the way 

November 9, 2015

Reporting by Huw Jones, editing by Sinead Cruise, Reuters

Remaining changes to global bank capital rules don't amount to a quantum change in requirements for lenders as claimed by the sector, Financial Stability Board Chairman Mark Carney said on Monday.

Global regulators are revising key capital rules for banks, such as how much they should set aside to cover risks from the assets they trade.

Banks have dubbed this "Basel IV" or a major revampt of the Basel III bank capital reforms rushed through after the 2007-09 financial crisis.

"There is no Basel IV. No, no Basel IV. There is completion of Basel III," Carney, who is also governor of the Bank of England, told a news conference. "What we are doing is we are ironing out issues that have been identified over time in the application of Basel III."

He also ruled out any attempt by the FSB to roll out at the global level the new Senior Managers Regime on banker accountability which is being introduced by the Bank of England, which he also heads.

Read more

Comments are closed on this post.


Submit your email to receive our newsletter