Category Archives: Basel

Global FinTech Policy – A Shifting Landscape

By | February 27, 2019

Courtesy of Barbara C. Matthews This February could rightly be called “FinTech Month” in Basel, Switzerland, given the number of documents put out by the Financial Stability Board (FSB) that point to a shift in priorities for the international standard setting body. While little noticed by the financial press, this post will analyze the FSB… Read More »

Basel and the IASB: Legitimacy Interdependencies and Consequences for Prudential Regulation

By | July 31, 2018

Courtesy of Jan Riepe Legitimacy is a key concern for international standard setters. If transnational actors set standards instead of national democratic authorities, the standard setters might suffer from ‘apparent’ legitimacy deficits. The consequences of an ‘apparent’ legitimacy deficit are low levels of public support for institutions, policies and authorities. Consequently, most international standard setters… Read More »

Increasing Transparency at the Financial Stability Board and Basel Committee

By | March 14, 2017

Shortly after President Trump took office, Congressman Patrick McHenry (R-NC) sent a sharply worded letter to Janet Yellen demanding that the Federal Reserve immediately cease participation in international financial regulation forums such as the Financial Stability Board (FSB), The Basel Committee on Banking and Supervision (BCBS), and the International Association of Insurance Supervisors (IAIS). McHenry… Read More »

Basel Committee is on the Clock

By | December 12, 2016

The great financial crisis was caused in large part by complexity: complex products, complex institutions, and complex counterparty networks. Yet, post-crisis regulatory reforms designed to prevent future financial crises, principally Basel III, are equally complex. Sophisticated actors easily exploit complex systems, and large banks certainly are sophisticated – if nothing else. Several empirical studies have… Read More »