Basel Committee

Claire Jones

No longer content with  setting the world’s capital and liquidity standards, the Basel Committee now wants to take on the mantle of global regulatory policeman.

This from the FT’s chief regulation correspondent Brooke Masters:

Teams of global regulators will fan out across the world from next year to ensure that new tougher capital and liquidity standards are enforced correctly, the chairman of the Basel Committee on Banking Supervision said on Wednesday.

Stefan Ingves, the chairman, notes that this new role “represents a significant practical and cultural shift” for a committee that has in the past relied more on persuasion than policing.

However, the very fact that the chairman believes Basel cops are needed to ensure Basel III is properly enforced highlights a similarly significant shift in attitudes towards its regulations over recent years. Read more