Basel Committee opts for local discretion on rate risk
Committee abandons attempt to create common global standard for interest rate risk
The latest plank of Basel III dropped into place today (April 21) as the Bank for International Settlements' Basel Committee on Banking Supervision published its final standards on interest rate risk, leaving considerable discretion with banks and supervisors.
In unveiling standards for interest rate risk in the banking book, the Basel Committee backed away from proposals for a common global standard floated in June 2015, adopting instead a "pillar 2" approach.
As such, it will be up to
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