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Basel Committee finalises framework, but will it avert regulatory fragmentation?

Molly Preleski, a financial services expert at PA Consulting Group, is quoted in an article in Global Risk Regulator on the Basel III framework. This article follows the meeting the Basel Committee on Banking Supervision (BCBS) had on Thursday 7th December 2017. 

Molly says: “The United States could still unsettle these agreements. There’s still a final hurdle to get over in agreeing the rules, as legislators globally must ratify the rules. Given the unpredictability of the US government, and known desire of the Trump administration to limit regulatory changes, it’s not clear how long this part of the process may take.” 

She explains that though concessions were made by the negotiating parties it was not the package the Committee had hoped for.  For instance, she says, “it’s been forced to completely abandon plans for risk weights on government bonds, which are usually thought of as risk free, but aren’t necessarily so.”

Read the full article in Global Risk Regulator here.

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