The Global Markets Financial Association has published its comments on the G20 Summit. The comments focus on the following areas:
The European Banking Federation has published a letter to Commissioner Barnier in relation to the recent public statement by the US Authorities that they will not implement Basel III in time for 1 January 2013 and no alterative date for the introduction of new rules on capital was offered.
The Basel Committee has published the results of its Basel III monitoring exercise which is based on rigorous reporting processes set up by the Committee to periodically review the implications of the Basel III standards for financial markets.
The Basel Committee on Banking Supervision has revised paragraph 75 of Basel III (which is designed to ensure that an increase in the credit risk of a bank does not, via a reduction in the value of its liabilities, lead to an increase in its common equity) as regards its application to derivatives.