Regulators will solve liquid assets shortage, says HKMA’s Kemp
The new Basel III framework had to be drawn up at warp speed, but regulators have compensated with an extended transition period and will be looking out for unintended consequences, Karen Kemp of the Hong Kong Monetary Authority tells Duncan Wood
When Karen Kemp, the executive director for banking policy at the Hong Kong Monetary Authority (HKMA), took up her current post in February 2008, she was assured by her predecessor that the banking policy role was a studious, cerebral one, in which she would have the opportunity to think deeply and apply a sculptor’s craft to the rule-making process. At the time, that may well have been true – it took the Basel Committee on Banking Supervision seven years and five quantitative impact studies to
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