Yesterday,the Basel Committee on Banking Supervision (BCBS) finalized plans to move forward with an additional capital surcharge on what they call,global systemically important banks (G-SIBs),and what others have been calling systemically important financial institutions (SIFIs).
Regardless of what you call these large banks,the vote yesterday to move forward with this additional [...]
A few months ago,Daniel Tarullo,a member of the Federal Reserve Board of Governors,gave a speech entitled Regulating Systemically Important Financial Firms,where he laid out the argument for requiring the largest banks,the so-called SIFIs,to hold an additional layer of capital. It received a fair amount of notice at the time,[...]
On Monday,Jamie Dimon caused a bit of a kerfuffle during an interview with the Financial Times when he suggested that the stronger Basel regulations were “blatantly anti-American.”What was most puzzling to me when I heard the news was that,in the past,Dimon has been either supportive of increased regulatory requirements or,at [...]
Bank of America can’t seem to get itself out of the news. In this morning’s Wall Street Journal,there’s a story that the Fed has asked BofA for contingency plans in case conditions continue to worsen. It’s an interesting article,but for me,BofA’s issues point to a larger,more interesting issue than whether or [...]