Basel III, the Devil and Global Banking

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Chorafas, Dimitris N.

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ISBN:9780230353770
Editorial: Palgrave
Fecha de la edición:2011
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Nº Pág.:304
Idiomas:Ingles,Inglés

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The new capital adequacy rules by the Basel Committee on Banking Supervision, widely known as Basel III, is a set of regulatory standards. The regulatory activities of the Basel Committee divide into two major epochs: before and after the deep economic and banking crisis of 2007-2011. This crisis has already fundamentally changed the sense of prudential regulation, and the outcome has been Basel III. In this book Chorafas takes a well-rounded look at Basel III's strengths and weaknesses. Whether Basel III will be a success or a failure, we don't yet know. What can be argued is that there will be an important long-term impact on the banking industry, and most particularly on big global banks -- provided that governments don't alter the Basel III rules, delaying their implementation or canceling them altogether. Governments, however, are playing devil with Basel's higher capital ratios and liquidity requirements, probably because they know the sorry state of financial institutions under their watch.

PART I: THE PERPETUAL MOTION OF GLOBAL FINANCE Finance and Banking are Time and Motion Machines Global Banking and Systemic Risk Basel III is a Grand Compromise, Not a Bold Initiative PART II: BASEL III AND THE NOTION OF GLOBAL RISK Is it Possible to Regulate Financial Markets in Perpetual Change? Capital Adequacy and Liquidity. The Devil is in the Detail Home-Host Issues Haunt Bankers and Regulators PART III: RISK MANAGEMENT NEEDS A NEW CULTURE The Concept of Risk Management Must be Thoroughly Revamped Correlation Risk Overwhelms the Global Banking Industry Risk Control Requires Authority, Goals and Organization PART IV: BASEL III SHOULD ALSO ADDRESS THE PERPETUAL MOTION FINANCIAL MACHINE OF SOVEREIGNS AND CENTRAL BANKS By Salvaging Overleveraged Banks, Sovereigns Propagate Global Systemic Risk What's the Sense of Central Banks Interventions?