Banks are like casinos. They never lose.
Group of Governors and Heads of Supervision endorses revised liquidity standard for banks, page
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Topic started on 6-1-2013 @ 03:06 PM by WhereIsTheBatman
Nothing changes. Banks get more power.
The international financial regulators, united in the Basel Committee, decided to postpone the regulations relating to cash that banks must have available as collateral.
Banks "warned" that the proposed regulations could be an obstacle for the economic recovery.
Source
The liquidity coverage ratio of Banks now includes more types of assets, including certain equity and mortgage products, These new liquidity rules should prevent bank runs, where people decide to massively withdraw all their savings.
The banks have four more years to comply with the regulations. "This was a compromise between the different visions of the world," said Mervyn King, chairman of the Bank of England. ECB President Mario Draghi was also in favor of postponing the regulations.
The Group of Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision, met today to consider the Basel Committee's amendments to the Liquidity Coverage Ratio (LCR) as a minimum standard. It unanimously endorsed them. Today's agreement is a clear commitment to ensure that banks hold sufficient liquid assets to prevent central banks becoming the "lender of first resort".
Nothing changes. Banks get more power.
The international financial regulators, united in the Basel Committee, decided to postpone the regulations relating to cash that banks must have available as collateral.
Banks "warned" that the proposed regulations could be an obstacle for the economic recovery.
Source
The liquidity coverage ratio of Banks now includes more types of assets, including certain equity and mortgage products, These new liquidity rules should prevent bank runs, where people decide to massively withdraw all their savings.
The banks have four more years to comply with the regulations. "This was a compromise between the different visions of the world," said Mervyn King, chairman of the Bank of England. ECB President Mario Draghi was also in favor of postponing the regulations.
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