Credit Crunch Right Around The Corner: US Senators Introduce Bill To Break Up Megabanks, Bring Back Glass-Steagall, FRB To Implement Basel III Capital Reforms And To End QE This Year (Not Slow End)
Investmentwatchblog.com
July 11th, 2013
Basel III gets green light from banking regulators
Regulators maintain differing opinions on how to craft a safety net for systemically risky financial institutions, but most of them agree a stronger capital system for the financial market must be in place.
As a result, the majority of policymakers approved the final regulatory capital rules for the Basel Committee on Banking Supervision Tuesday, laying the foundation for future banking institution reform. The approvals occurred at an open meeting held by the Federal Deposit Insurance Corp. to finalize Basel III rules already approved by the Federal Reserve.
While there have been bumps along the way — specifically inner agencies failing to agree upon a common consensus of the regulations — finalizing the elements of Basel III will help ensure banks can safely wind down and deal with unexpected losses during a severe economic crisis.
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