Nobody expected that crafting international capital reserve and risk standards for banks would be easy. But few probably predicted it would be this hard.
After years of debate since the global financial crisis of 2008, there remains great confusion and divisiveness over international standards, especially when it comes to new capital rules promoted by the Basel Committee on Banking Supervision, known as Basel III.
The latest developments on Basel III do more than hint at hand-wringing by global regulators as they contemplate how to implement the standards. Last month, the Federal Reserve, the Federal Deposit Insurance Corporation, and Office of ...