Rule 26, paragraph 6, of the rules of procedure of the Conference of the Parties to the Basel Convention provides

Better than Basel

After the crisis, world leaders and central bankers overhauled banking regulations, first and foremost by rectifying the Basel prudential rules. Unfortunately, the new Basel III Accord and the ensuing EU Capital Requirements Directive have failed to correct the two main shortcomings of international prudential rules namely, their reliance on banks risk management models for the calculation of capital requirements, and the lack of supervisory accountability.

The most remarkable feature of the policy deliberations on prudential banking rules so far has been their delegation to the Basel Committee of Banking Supervisors and the banks themselves, both of which have a vested interest in preserving the existing system. Governments and parliaments have an obligation to launch a thorough review of the Basel rules, and to demand revisions that align them with the public interest.

Basel Convention (Caribbean) Regional Centre

Basel Committee on Banking Supervision

Requested a Basel Convention centre

Members of the Basel Convention Open ended Working Group and the Secretariat of the Basel Convention could provide relevant expertise.

Much has already been done to advance regulatory reform, notably the recent agreement to strengthen bank capital (Basel III). Yet we are far from having the supervision needed for proper implementation of the rules.

Basel Committee's work on combating financing of terrorism

The problem is that the Basel capital rules whether Basel I, II, or III are of no help in separating the weak banks from the sound ones. Indeed, more often than not, the banks that failed or had to be rescued in the wake of the 2008 financial crisis had solvency ratios higher than those of banks that remained standing without assistance.

There has been commendable progress on the Basel 3 capital requirements for banks, with 25 of 27 Basel Committee members having issued final rules. Likewise, the impact of regulatory changes resulting from major legislation and policy directives in the United States, Europe, and the United Kingdom on banking, insurance, financial transaction taxes, anti money laundering, and cyber space is likely to be substantial.

Bank for International Settlements, Basel Committee on Banking Supervision

Basel Convention regional centres for training and technical transfer

New York, Basel, Marcel Dekker Inc., pp 87 107.

In October 2004 the Basel Committee issued Consolidated KYC Risk Management.

Paragraph 1 of Article 14 of the Basel Convention states that

The Basel Secretariat would examine the possibility of holding such a meeting in conjunction with the meeting of the Open ended Working Group of the Basel Convention, to be held in early April 2006.

The representative of the Basel Convention Secretariat made a brief presentation on the issue.

This is particularly emphasized for linkages to the regional centres of the Basel Convention.

In February 2003, the Basel Committee issued General Guide to Account Opening and Customer Identification.

Basel Convention on the Control of Transboundary Movements of Hazardous Wastes and their Disposal mandate

I'm doing a building in Switzerland, Basel, which is an office building for a furniture company.

The financial industry complains that efforts to force greater equity funding would curtail lending, but this is just nonsense in a general equilibrium setting. Nevertheless, governments have been very timid in advancing on this front, with the new Basel III rules taking only a baby step toward real change.

The response to the Basel Convention request would be submitted to the Conference of the Parties to the Stockholm Convention for consideration at its third meeting and forwarded to the ninth meeting of the Conference of the Parties to the Basel Convention.

b. Cooperate with the Open ended Working Group of the Basel Convention for matters of common concern

There is no direct mechanism under the Basel Convention to fund the operations of these regional centres.

1 The Basel Committee on Banking Supervision (BCBS) is a committee of banking supervisory authorities that was established

Response to the request by the Conference of the Parties to the Basel Convention at its seventh meeting

There is a strong argument for going further, and subsuming the standard setters the Basel Committee, the International Organization of Securities Commissions, the International Association of Insurance Supervisors, etc. in a single body. They could be co located in a regulatory Tower of Babel in Basel.

In Switzerland Germany, actually on the Rhine across from Basel, we did a furniture factory and a furniture museum.

C. Response to the request by the Conference of the Parties to the Basel Convention at its seventh meeting

Basel II also recommends a new, more differentiated and stricter regulatory capital criterion for various types of such ratings.

As of the deadline, comments were submitted by Germany and these comments were placed on the Basel Convention website (www.basel.int).

Accordingly, experts considered how best to respond to the invitation from the Basel Convention within the current meeting and intersessionally.

My recent study with Jacopo Carmassi, Time to Set Banking Regulation Right, shows that by permitting excessive leverage and risk taking by large international banks in some cases allowing banks to accumulate total liabilities up to 40, or even 50, times their equity capital the Basel banking rules not only enabled, but, ironically, intensified the crisis.

The main point of the new European regulatory measures under consideration (apart from the so called new Basel III rules) is to bring more stability to the financial system. The indirect effect will be to reduce the financial sector s size in absolute terms and relative to the economy and to hinder its growth in the future.

And also, I began to be fascinated by machines you know, like copy machines and so this is actually in Basel.

The Basel Committee, in its Customer due diligence for banks (CDD) paper of October 2001, issued prudential guidance in this area.

Analysis of the implications for the Stockholm Convention of the guidelines on persistent organic pollutant wastes adopted under the Basel Convention

Welcomes also the recommendation of the Open Ended Working Group of the Basel Convention made at its fourth session requesting the secretariat of the Basel Convention to cooperate with the secretariats of the Stockholm and Rotterdam conventions in preparation of the study on cooperation and synergies referred to in paragraph 2 above

But many emerging markets are already leading by example on important issues like the need to shift global financial flows from debt toward equity. Mexico, for example, recently adopted ahead of schedule the changes in capital requirements for banks recommended by the Third Basel Accord (Basel III), in order to reduce leverage and increase stability.

We can work within the rules we can't break the rules we're just learning what the rules are.

Are there some rules we can develop for changing rules?

Rules