Sovereign risk weights cannot wait
Why reform of Basel rules is urgent – and how to improve on December 2017 proposals
The aftermath of the global financial crisis has seen a significant and sustained overhaul of the regulatory architecture facing banks and other financial market participants. One particular cause of concern was the so-called bank-sovereign doom loop. Failing banks can trigger taxpayer-funded bailouts, and declining sovereign creditworthiness can stress banks’ balance sheets because of their large holdings of government debt, with both developments potentially reinforcing each other.
And yet
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