Rate risk under Pillar 2 left ‘hole in the system’ – Ingves
Former Basel chair says rate risk “probably” should fall under Pillar 1; greater focus needed on liquidity rules
The treatment of interest rate risk should “probably” be included under the mandatory regulatory framework, or Pillar 1, of international bank capital rules, according to Stefan Ingves, former chairman of the Basel Committee on Banking Supervision.
Ingves, who was instrumental in the introduction of the Basel III Accord, said there was “no appetite” to “deal with interest rate risk” in the 2010s – the period when the Basel rules were upgraded in the aftermath of the global financial crisis. As
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