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Basel May Be Bad For Developing Countries
The “one-size-fits-all” approach to the capital requirements adopted by the Basel Committee on Banking Supervision may have a negative impact on developing countries, according to Vincenzo La Via, cfo of World Bank Group, reports Financial Times.
The “one-size-fits-all” approach to the capital requirements adopted by theBasel Committee on Banking Supervisionmay have a negative impact on developing countries, according toVincenzo La Via, cfo ofWorld Bank Group. Writing inThe Financial Times, La Via notes implementation of Basel III could pose “a stark choice” to such banks—namely, raise new capital or cut back business, with the former a particularly vexing issue for developing markets. La Via also suggested that Basel III may be outdated by the time the rules are fully implemented by 2019.