The guardians of global banking standards this week proved the pessimists’ old adage that for every silver lining there is a cloud.
Amid the surprising and at times spectacular rally in global financial stocks, some of the world’s most powerful standards setters released with no fanfare a proposal that could put a serious squeeze on parts of the industry.
The proposal from the Basel Committee on Banking Supervision is partly a response to specific bank behaviour in the run up to the credit crisis. But the committee and its partners at the International Organisation of Securities Commissioners – a club for financial watchdogs – are also trying to better control risk taking by banks overall, now and in the far future.
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