Australia weighs up move to adopt Basel III early
The Australian prudential supervisor wants the country’s banks to adopt the new Basel III capital adequacy rules two years earlier than their global peers. What are the benefits and costs of early adoption?
Following the global financial crisis in 2008–2009, the Basel Committee on Banking Supervision embarked on a programme to revise its existing capital adequacy guidelines with the aim of preventing another financial crisis. The resulting framework was Basel III, a set of capital and liquidity requirements endorsed by the G-20 at the November 2010 summit in Seoul. With the core framework in place
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