What Basel III means to us
The Basel Committee on Banking Supervision published the final text of Basel III on December 16, which introduces new minimum capital requirements, two liquidity ratios, a charge for credit value adjustment and a leverage ratio, among other things. Risk speaks to a group of senior regulators, bankers and industry observers to get their reaction to the landmark regulation
Regulators
Andrew Haldane, executive director, financial stability, Bank of England, London
Basel II was founded on three pillars. Pillar I defined the regulatory rules. That pillar collapsed under the weight of the crisis before the plaster had even set. Basel III is important in re-establishing the foundations: better quality liquidity and capital, and more of it. As importantly, and for the first time in their history, regulatory rules and tools will have an explicitly macro-prudential focus
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