Reuters news.docx
- 文档编号:7690433
- 上传时间:2023-01-25
- 格式:DOCX
- 页数:16
- 大小:33.43KB
Reuters news.docx
《Reuters news.docx》由会员分享,可在线阅读,更多相关《Reuters news.docx(16页珍藏版)》请在冰豆网上搜索。
Reutersnews
02:
4627Jul10-FACTBOX-ChangestoBaselIIIbankcapitalplans
July26(Reuters)-Centralbanksagreedaraftofchanges
onMondaytoeasethepainoftheplannedBaselIIIreformthat
willmakebanksholdmorecapitalandliquiditytowithstand
shockswithouttaxpayeraid.
ThemodificationswereagreedbytheGroupofGovernorsand
HeadsofSupervision,abodyofcentralbankersandregulators
fromtheGroupof20andotherleadingcountries.
ItoverseestheBaselCommitteeonBankingSupervision,
whichdraftedBaselIIIlastDecember,sparkingwarningsfrom
banksthattheywouldnotbeabletokeepuplendingtothe
economywhilesignificantlybeefingupcapital.
NokeyelementsofBaselIIIarebeingscrappedas
regulatorsinsistonkeepingthepackageintactinreturnfor
thelongerphaseinagreedlastmonthbytheG20.
Manyofthechanges,suchasondeferredtaxesand
treatmentofminorities,willbewelcomedbycountriessuchas
Japan,FranceandGermany.
TheG20issettoendorseafinalizedBaselIIIreformin
Novemberwithimplementationfromtheendof2012.
(Forfulllistofmodifications,double-clickon:
http:
//www.bis.org/press/p100726/annex.pdf)
ThefollowingarethekeychangesannouncedonMonday:
DEFINITIONOFCAPITAL
*BaselIIIproposesbanksmustdeductallcapitalheldin
minority-ownedbanks,butbankssaidthiswouldforcethemto
eitherdiveststakesoracquirefullcontrol.
*Thereformwillnowallow"someprudentrecognitionof
theminorityinterestsupportingtherisksofasubsidiarythat
isabank."SeveralbanksinEuropewillbepleased.
DEFERREDTAX
*Greaterwiggleisalsobeinggiventothetreatmentof
deferredtaxassetsinbankcapitalsotheynolongerhaveto
befullydeductedfromcapital.Japanhasbeenlobbyingfor
suchawateringdown.
COUNTERPARTYCREDITRISK
*Thedraftrulesaremadelessdraconianafterbanking
concernsabouttheimpacttheywouldhaveonholdingsofassets
likederivatives.Largebankswillwelcomethemove.
LEVERAGERATIO
*Manytweakstoeasethepainofintroducingaleverage
cap,commonplaceintheUnitedStatesbutwhichwouldbefor
thefirsttimeinregionslikeEurope.
*Theleverageratioorcapwillbecalculatedasan
averageoverthequarterwithalengthyphase-in.
*TheBaselCommitteewilltestaminimumTier1leverage
ratioof3percentandlengthyphase-inprospect.
*Agreementtodividetransitionperiodintotwo
milestones
--supervisorymonitoringperiodstartsJanuary2011to
tracktheunderlyingcomponentsoftheagreeddefinitionand
theresultingratio.
--parallelrunperiodstartsJanuary2013andrunsuntil
January2017,duringwhichtheleverageratiowillbetracked.
*Bankleveldisclosureoftheleverageratioandits
componentswillstartJanuary2015.
EXTRABUFFERS
*BaselCommitteewillcontinuewithitsworkondefining
newregulatorybuffersaboveTier1aswellasonadditional
buffersthatwouldhavetobebuiltupduringtimesof
excessivecreditgrowth.
*Finalisationbyendof2010.Bankswerehopingforsome
ofthisworktobepushedback.
CONTINGENTCAPITAL,CAPITALSURCHARGES
*Endorsedworkonproposalsonhowtodealwithcontingent
capitalasanelementofabank'scapital.
*Contingentcapitalcouldalsoplayaroleinmeetingany
systemicsurchargerequirementsonbankswhosefailurecould
destabilisethebroadersystem.
*Bankswillwelcomesometweaksinthisarea.
LIQUIDITYRULES
*Severalmodificationsannouncedonhowthefirstglobal
bankliquidityregimewillwork,particularlythewideningof
assetsthatcanbeincludedinaliquiditybufferfromjustthe
country'ssovereigndebt.
*Allowtheinclusionofdomesticsovereigndebtfornon
zeroriskweightedsovereigns,issuedinforeigncurrency.
*Introducea"Level2"ofliquidassetswithacapthat
allowsupto40percentofassetsotherthantoprated
governmentdebt.Bankswerefacingproblemsoftoppingupon
sovereigndebtincountrieswhichhavenoneedtoissuedebt
duetobalancedbudgets.
*BaselCommitteewilldevelopstandardsthisyearfor
countriesthatdon'thavesufficientgovernmentdebtissuesto
meettheoriginalBaselIIIreform.
*Thenetstablefundingratio(NSFR)reform,which
requiresbankstohaveenoughlongertermliquiditytotap,
staysindespitehopesitwouldbescrapped.
*Itscalibrationwillbemodifiedwithalengthyphasein,
byJanuary2018.
((ReportingbyHuwJones;EditingbyPaulSimao))
((huw.jones@;+44-207-542-3326))
22:
0827Jul10-ANALYSIS-BankswintimebutnotrespitefromBasel
ByHuwJones
LONDON,July27(Reuters)-Bankswillgetmoretimeandleewaytointroducenewglobalcapitalrulesbutcallstolendmorefreelymaybehardertoresistasaresultandthenewregimewillstillbefartougherthananythingthatexistsnow.
CentralbanksgovernorsandheadsofsupervisionpublishedchangestothedraftBaselIIIaccordlateonMonday,sparkingrisesinEuropeanbankingsharesandacollectivesighofreliefwhenmarketsreopenedonTuesday.[ID:
nLDE66Q11A]
Thelessdraconiantreatmentofdeferredtaxassetsandaffiliatesforcalculatingcapital,alongphaseinfornewliquidityrulesandacapondebtwilleasepressureonbankstoraisevastamountsoffundsorselloffminoritystakes.
Thewayinwhichacapitalchargeisslappedonabank'sexposurestootherbanks'creditriskswillalsobecalculatedmoreleniently,takingpressureoffcapitalrequirements.
"Therearesomewinsforushere--themoresensibletreatmentofminorityinterestsanddeferredtaxassets,andrecognitiontheyhavetodomoreworkontheliquiditysideofthings,"saidSimonHills,adirectoroftheBritishBankers'Association.
"Itintroducesanelementofcertainty.Oneoftheconcernswehavehadiswhilethiswasupintheair,wewereunabletoplantheshapeofourbalancesheet,"Hillssaid.
CreditSuissesaidcoupledwithlastweek's"credible"stresstestofEuropeanbanks,theBaselchangesshouldfuelacontinuationofthesector'sbouncebyremovinguncertainties.
Investorswon'tknowthefullimpactofBaselIIIuntillaterintheyearwhentheBaselCommitteecompletesthepicturewithafigureforahigherTier1capitalratioanddetailsofhowlongbankshavetoditchlowerqualitycapitalfromtheircapitalcalculations.
HeretheregulatorswillhavetoheedadealcutbytheGroupof20leadingcountrieslastmonthtohavealongerphaseinthantheoriginalendof2012deadlineforBaselIII.
"Therewillbeagradualmigrationsoindustrycangettherethroughretainedearningsandreasonablecapitalraising,"BaselCommmitteeSecretaryGeneralStefanWaltersaid.
Expertssaidfearsthemorelenientapproachmaycompromisethemaingoal--topreventanewfinancialcrisisfollowingthecreditcrunchthatstartedin2007--wereprobablyoverdone.
MostoftheBaselIIIelementsarenewatthegloballevel--suchasatighterdefinitionoftopqualitycapital,liquidityrulesandacapondebt--andwillthereforestillbeabigtighteningonthepresentsituationdespitethisweek'stweakstothecommittee'soriginalplan.
"Thereissomereliefforthesectorontimingbutregulatorypressureremainssignificant,"saidExecutionNobleanalysts.
Andtherewillcertainlybemorepressureforbankstolend.
DavidClark,chairmanoftheWholesaleMarketsBrokersAssociationsaidbankswouldhavefewerexcusesnottohelpbusinesses."Thereisgoingtobeapoliticalconsequenceofallthis.Thebankswillnowbeunderalotmoremoralpressuretolend,"hesaid.
LIQUIDITYBOOST?
BaselIIIoriginallyproposedabanonbankscountingcapitalheldinaffiliatesaspartoftheirownholdings.Thistriggeredfearsofafreezeinacquisitionofminoritystakesorsell-offstoavoidtheneedforextracapital.
Bankswillnowbeabletoincludecapitalfromminority-heldcompaniesuptoacertainthreshold.MorganStanleysaidthismaybeenoughtoallowBarclays
French,NordicandItalianbanksshouldalsobenefit.
TheBaselpackagealsoincludesaproposaltoensureabankhasenoughlong-termliquidity,knownasthenetstablefundingratio,whichhasnowbeendilutedsothatitwon'ttakefulleffectuntilthestartof2018,fiveyearslaterthanexpected.
"Therewillbealongphaseinratherthanimmediateimplementationbutsomepeoplehadthoughtitwasgoingtobescrappedaltogether,"saidAndrewLim,ananalystatMatrix.
CreditSuissesaidtherevisedNSFRproposalwaslikelytohelpthecreditmarketimproveasitremovesasignificantamountofsupply.
MorganStanleywarnedinJanuarytheoriginalproposalwouldrequire1.5trillioneurosoffundingandanalystssaidthechangesannouncedonMondaywillbenefitbankslikeBritain'sLloyds
Baseloriginallywantedonlygovernmentbondsincludedinabank'splannednewshort-termliquiditybufferbutthishasnowbeenbroadenedout,drawingalessonfromEurope'ssovereigndebtcrisiswhereratingsonGreekdebtwerecuttojunk.
Now,sometopratedcorporatedebtcanbeincluded.
ThiswillbeparticularlywelcomedincountrieslikeAustraliawhosestrongpublicfinancesmeanthereisnotenoughgovernmentdebtforlocalbankstobuyforbufferbuilding.
Usingderivativescontractswill,however,becomemoreexpensiveafterBaselannouncedasurprisetougheningupofcapitalchargesoncontractsclearedatcentralcounterparties.
- 配套讲稿:
如PPT文件的首页显示word图标,表示该PPT已包含配套word讲稿。双击word图标可打开word文档。
- 特殊限制:
部分文档作品中含有的国旗、国徽等图片,仅作为作品整体效果示例展示,禁止商用。设计者仅对作品中独创性部分享有著作权。
- 关 键 词:
- Reuters news