Risk 25: How Basel III is turning borders into barriers

Increasing prices on cross-currency swaps as a result of Basel III’s credit value adjustment charge are making it harder for companies to issue bonds overseas – this is just one example of the fragmentation of global capital markets

Risk25 Basel bricklayers

Globalisation has produced some powerful icons – the golden arches of McDonalds glowing in more than 100 countries, the Asian and European car plants clustered in Mexico and the southern states of the US, and the US-invented iPhone assembled in China from components made in a host of other countries. But underpinning these developments is a less visible force – the global capital markets that give companies the ability to issue foreign currency bonds and swap the proceeds back into domestic

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here