الخميس، 27 سبتمبر 2012

IMF warns of collapse of major banks because of Basel 3

International Monetary Fund warned that the standards "Basel 3", which was approved in Switzerland recently may result in more of the world's major banks to collapse, rather than protecting the light of the global economic crisis.

It is supposed to start banks in the world adhere to these new standards as of the year 2015, which include extensive structural reforms of the banking sector in the world, including with regard to precautions mandatory for banks.

The newspaper "Financial Times" Wednesday 09/26/2012 British report issued by the International Monetary Fund that the standards "Basel 3" approved by lawmakers Financial Aalmeon may cause aggravation of the crisis of major financial institutions, leading each to collapse, while governments are struggling to save financial institutions from the financial crisis.

Analysts said the International Monetary Fund said that "major banking groups have features that make them better able to absorb the costs of new regulatory standards, these groups might become more famous and privilege in the markets, and the markets themselves will become more focused."

The decision-makers in the economic and financial Basel had discussed forcing companies and financial institutions with financial and capital reserves more to become better able to recover from any crisis facing financial markets in the future.

Moreover, analysts added in the latest report on global financial stability issued by the International Monetary Fund "that banks that have a large share in the fixed-income activities, and in the currency, and commodity markets will become more dominant on the market."

The International Monetary Fund warned that the standards "Basel 3" will also raise the motivation of a lot of financial institutions in order to circumvent the natural frameworks applicable in the banking systems.

The report warned a clear tone of "forcing banks to raise their capital growth may put in an awkward situation."

The IMF said in a report that the global financial system remains fragile four years after the collapse of Lehman Brothers in the United States fall of 2008.

He continued: "reforms in the global financial system, including the Basel 3, moved" a bit in the right direction but not enough. "

The IMF said, "Although there are some reforms, but some of the economy still has not seen significant changes."

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