Two years after the collapse of Lehman Brothers, PwC has raised concerns over
the implementation and detail of proposals aimed at strengthening the financial
stability of banks.
The firm said it broadly supports the latest Basel III proposals released
this week, which include the raising of capital ratios, the introduction of a
capital conservation buffer and a countercyclical capital buffer. However it has
concerns over some of the detail in the proposals and over how the new rules
will be implemented.
Details still need to be worked through by regulators on calibration,
transition-feedback mechanisms and clarity around the operation of capital
“This is a big step forward in reducing the risk of another severe market
crisis but for banks and regulators to turn their attention elsewhere now would
be perilous – as the regulators recognise, higher ratios alone will never take
all the risk out of the banking system,” said PwC director Patrick Fell.
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