Following a meeting of the Basel committee in March this year, the Chairman Stefan Ingves, announced that the committee has made further progress towards the finalization of the Basel III accord are stricter capital rules and restrictions on the use of complex internal models used by banks to assess their risk. Despite the further progress reported be the Basel committee, delays are anticipated.
The expected delays are not helping by the changing attitudes from the US towards global banking regulation. This change in attitude could not only pose further delays to finalization. But lead to a greater fragmented approach to financial regulation, negativity impacting those institutions wishing to operate on a global scale.
Originally published by International Chamber of Commerce - 2017
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