Jurisdictions’ wide variation in applying Basel III capital standards shows the need for additional international guidance, said Fernando Restoy, head of a Bank for International Settlements unit.
“Basel III cannot, by itself, guarantee a complete harmonization of actual capital obligations across jurisdictions,” said Restoy, chairman of the Switzerland-based Financial Stability Institute, which helps national regulators around the world strengthen their financial systems.
Global authorities should undertake “additional policy work aimed at providing international guidance on high-level issues currently covered by widely disparate approaches,” he said in a speech posted last week.
More Basel III guidance needed for consistent implementation, BIS unit chief says
22 April 2019 6:02pm