Basel Chair urges banks to fully implement capital rules as soon as possible

Prices at the Pumps - April 17, 2024 #saltwire #energymarkets #pricesatthepumps #gaspricesMADRID - Basel Committee Chair Pablo Hernandez De Cos on Thursday urged banks to fully implement the so-called Basel III international capital rules"as soon as possible" across jurisdictions to ensure financial stability.

Last year saw the forced takeover of Credit Suisse, the first globally systemic bank to fail since the global financial crisis of 2007-2009, and the demise of several U.S. banks, such as Silicon Valley Bank. Basel is already turning to tackling new risks, such as the social-media fuelled runs witnessed during the banking turmoil that began in the United States in March last year.

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