Economics, Econometrics and Finance
8 years ago

Basel III fails to fix financial crisis flaws, domestic regulation needed

Business and Economic Research
Basel III as a regulatory response to the global financial crisis
Imad A. Moosa, Kelly Burns

Paper Summary

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The article criticizes Basel III, a set of rules for banks after the financial crisis. It says the rules about capital, leverage, and risk are problematic. Changes to Pillar 2 and Pillar 3 are seen as just talk. Basel III doesn't fix the main issues of Basel II, which is also flawed. The article suggests countries should make their own rules for their own economies and markets.