Basel III – Thicker Gloves in a Boxing Match

As the Economist reported, “On September 12th the Basel Committee, a club of supervisors and bank regulators, finally reached agreement on how much extra stuffing needs to go into the cushions [of banks] to absorb losses and buffer the financial system against the next crisis.” The “Basel III” recommendations set out the revised global minimum capital requirements for banks.  As Felix Salmon (Reuters) analyses, “Possibly the most important thing here is the existence of the…

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