Basel Committee urges more banking simplicity
The Basel Committee on Banking Supervision has called on regulators to push banks to simplify their structures to make them easier to wind up in the event of collapse.
“Capital or other prudential requirements, designed to encourage simplification of the structures”, could be imposed on banks to reduce the cost and complexity of dealing with another Lehman Brothers-type resolution, the committee says. It cites Lehman Brothers’ 2,985 legal entities, operating in some 50 countries, which created
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