Basel signals leeway for mutuals over capital adequacy

The Basel Committee has proposed granting mutually owned institutions greater scope for fulfilling regulatory capital requirements in a consultative document published on December 17, 2008. "The [capital] regime should accommodate the specific needs of non-joint stock companies, such as mutuals and cooperatives, which are unable to issue common stock," the document said. It also proposed mutuals be given leeway with respect to the type of capital instruments that can be issued to bolster core