Hernández de Cos attacks ‘flimsy’ criticisms of Basel III
Committee chair says delays to implementation will divert resources from new risks
The chair of the Basel Committee on Banking Supervision on February 23 attacked “flimsy” criticisms of the Basel III framework, and urged banks and regulators to implement the rules.
Speaking at a conference in Ghent, Pablo Hernández de Cos said critics had been “warning about the detrimental impact of Basel III for almost 15 years”. He said the evidence “overwhelmingly” indicated that the banking system was safer as a result of the Basel capital and liquidity rules, adding that bank lending rose
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