On Tuesday 24 September, Finance Watch warned against losing political momentum to improve international banking prudential standards (Basel III).
By answering eight fundamental questions from the point of view of citizens who use retail banking services, the organisation sets out recommendations for consolidating the regulatory framework. In particular, it calls for: - the definition of a clear and identical scope of application of the Basel standards for all jurisdictions; - simplification of rules made difficult to read by the inclusion of exceptions and specific national features; - developing standards for real-time prudential reporting using new technologies to improve the quality and responsiveness of banking supervision.
Finance Watch also believes that quantitative banking prudential requirements (Pillar 1) need to be updated to take account of the risks associated with climate disruption.
See the report: https://aeur.eu/f/dmt (Original version in French by Mathieu Bion)