What Basel III means to us
What Basel III means to us
Regulators
Andrew Haldane, executive director, financial stability, Bank of England, London
Basel II was founded on three pillars. Pillar I defined the regulatory rules. That pillar collapsed under the weight of the crisis before the plaster had even set. Basel III is important in re-establishing the foundations: better quality liquidity and capital, and more of it. As importantly, and for the first time in their history, regulatory rules and tools will have an explicitly macro-prudential focus.
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