Risk Annual Summit: Basel ‘caved in’ on LCR, says German regulator
Bafin liquidity expert tells conference that national concerns and industry pressure caused LCR rewrite
A combination of national and industry concerns was behind the controversial watering down of Basel III's liquidity coverage ratio (LCR) in January, according to Ulrich Giebel, a liquidity policy expert at the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), Germany's prudential supervisory agency.
The Basel Committee on Banking Supervision "caved in to some pressure that came from countries as well as from the industry", said Giebel, speaking at the Risk Annual Summit in London today.
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