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Basel III: Partners working to a solution, at last?
10 November 2011
Alexander Malaket provides opinion to the recent Basel Committee rulings and assesses the impact within the international trade finance community.
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Basel III
BIS
ICC ADB
SIBOS
BAFT IFSA
GT Law
The maturity and cohesiveness of the message communicated by trade financiers to key stakeholders around the business of capital adequacy and more broadly, the Basel regulations, is clearly far advanced from where it was two or three years ago.
No one could credibly or justifiably argue against the need for prudent and effective regulation of the financial sector – globally – given the crisis which we continue to endure. Philosophy aside, it appears that our industry has developed clarity on a message and an approach to the whole issue of the Basel regulations, and has internalised the necessity to engage in an organised, coherent and most importantly, proactive manner.
These efforts, and the evolution of the approach, have been rewarded with the publication of a paper by the Basel Committee on Banking Supervision, entitled The Treatment of Trade Finance under the Basel Framework, in late October of this year.
The very fact...
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