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The Financial Times reports that the new Basel III banking standards might get toughened up in a few countries:

Top bankers in the UK, US and Switzerland are braced for their national regulators to impose tougher capital requirements than those required by Sunday’s landmark global agreement, even as investors bid up bank shares on relief that the standards were not more rigorous….Global banks based on Wall Street, in the City and Switzerland fear they will face the toughest rules.

They point to the “Swiss finish” that regulators there have traditionally applied on top of global standards and the UK’s willingness to be tougher on other issues, such as pay. They also said US regulators were likely to consider shorter timetables and may face pressure from Congress to be tougher.

Well, we can hope. And we can hope that these same regulators will toughen up on the risk weighting of assets while they’re at it. At this point I think we can all agree that AAA-rated MBS should probably require a wee bit bigger capital cushion than the same amount of United States treasury bonds, right?

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Fact:

In-depth journalism that investigates the powerful takes real money and is so damn important right now.But it doesn’t take a Mother Jones investigation to know that billionaires and corporations will never fund the type of reporting (like they do politicians) we do that exists to help bring about change. Instead, our mission-driven journalism is made possible by people power, and has been for 46 years now since our founding as a non-profit.

In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

$400,000 to go!

payment methods

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