Basel Committee considers use of credit ratings in LCR shake-up
The scrapping of the level 1 and level 2 distinction for liquid assets is also discussed as the committee reviews the liquidity coverage ratio
Credit ratings could be used to determine which sovereign bonds are eligible for the Basel Committee on Banking Supervision's new liquidity coverage ratio (LCR), according to sources close to the issue. A Basel working group is also considering scrapping the distinction between so-called level 1 and level 2 assets.
These changes, if implemented, would represent the biggest adjustments to the LCR since it was first proposed in December 2009. Meant to ensure banks hold sufficient high-quality
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