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Basel III Regulation- Comment
Comment from Abhijit Deb, UK Head Banking & Financial Services, Cognizant
“The current regular meeting of the G20 countries which is due to formally endorse Basel III is effectively dealing with a ‘fait accompli’, as any financial institution impacted has been preparing at scale for some time to ensure they are compliant. However, some have voiced concern over how sufficient the standards are to prevent another financial crisis.
“Ultimately, no single regulation will completely remove risk from capital, liquidity or other financial management. Instead, banks and regulators must consider the overall coherence of regulations against potential risks and ensure there remains a consideration of how financial institutions operate, as well as the broader market environment. By adopting this approach, institutions can look beyond basic ‘box ticking’ exercises at the reporting level, which are too often not applied at the initial transaction or banking/trading book level. This ‘operational lineage’ principle, across multiple risk and regulatory dimensions should be the key area of focus for well-managed banks and financial institutions, after considering how, when, where and how much to transform operations to meet current and future regulatory requirements.”
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Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
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