The Basel Committee & the Costs of Banking
Former Secretary General, Basel Committee on Banking Supervision
Chair, International Financial Reporting Standards Advisory Council
The problem in the early 1980s was that Japanese banks had almost no capital and they were financing a boom that led to staggering values - the Imperial Palace land was worth the equivalent of Florida, or some such estimates. Low-cost Japanese bank lending began to spill into other markets. Central bankers in Basel responded by attempting to set a common cost of capital framework - the work was initially thought to be a one-off event, but with the subsequent collapse of the Japanese bubble it became institutionalized and progressive. Successive financial collapses underscored the need.
Join us in conversation with William Coen, Former Secretary General of the Basel Committee on Banking Supervision, as we learn about the work of the BCBS, and the continued challenges we face in pursuit of strengthening regulation, supervision, and practices of banks worldwide. Like justice, the pursuit of financial stability is an enduring quest.
Link to attend will be sent with your registration confirmation.
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