Basel III: To Be Suspended and Potentially Dismissed (?)

The so-called Brown-Vitter Bill, the draft legislation which will be known as "Terminating Bailouts for Taxpayer Fairness Act of 2013" or the "TBTF Act” should U.S. congress enact it (and there is a good chance that it will), effectively prohibits implementation of Basel III capital standards for the U.S. banks. [...]

Andrew G Haldane, Executive Director for Financial Stability at Bank of England, has made a strong case about the excessive complexity of Basel III capital calculations in his speech at the Federal Reserve Bank of Kansas City’s 36th economic policy symposium (Jackson Hole, Wyoming, 31 August 2012). The accompanying research paper entitled “The dog and the Frisbee” provides a considerable analytical support to his views. [...]

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