{"id":10835,"date":"2014-09-07T23:43:05","date_gmt":"2014-09-08T03:43:05","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=10835"},"modified":"2014-09-07T23:43:05","modified_gmt":"2014-09-08T03:43:05","slug":"financial-reform-call-to-arms-ft-com","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2014\/09\/07\/financial-reform-call-to-arms-ft-com\/","title":{"rendered":"Financial reform: Call to arms | FT.com"},"content":{"rendered":"<p>Martin Wolf on how much capital banks should be required to hold:<\/p>\n<blockquote><p>The new regulatory regime is an astonishingly complex response to the failures of this model. But \u201ckeep it simple, stupid\u201d is as good a rule in regulation as it is in life. The sensible solution seems clear: force banks to fund themselves with equity to a far greater extent than they do today.<\/p>\n<p>So how much capital would do? A great deal more than the 3 per cent ratio being discussed in Basel is the answer. As Anat Admati and Martin Hellwig argue in their important book, The Bankers\u2019 New Clothes, significantly higher capital \u2013 with true leverage certainly no greater than 10 to one and, ideally, lower still \u2013 would bring important advantages: it would limit the implicit subsidy to banks, particularly \u201ctoo big to fail\u201d ones; it would reduce the need for such intrusive and complex regulation; and it would lower the likelihood of panics.<\/p>\n<p>An important feature of higher capital requirements is that these should not be based on risk-weighting. In the event, the risk weights used before the crisis proved extraordinarily fallible, indeed grossly misleading&#8230;..<\/p><\/blockquote>\n<p>There is no magic in the number of 10 times leverage (or 10% Tier 1 Capital to Total Assets) but the larger the buffer, the greater the protection against fluctuations in asset values. The Basel III minimum leverage ratio of 3% is too low to offer adequate protection, even with the highest quality assets, and while 10% is not readily attainable in the short-term, it makes a suitable long-term target.<\/p>\n<p>Read more at <a href='http:\/\/www.ft.com\/intl\/cms\/s\/0\/152ccd58-3294-11e4-93c6-00144feabdc0.html?ftcamp=published_links%2Frss%2Fcomment_columnists_martin-wolf%2Ffeed%2F%2Fproduct#axzz3CgIfbFeb'>Financial reform: Call to arms &#8211; FT.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Martin Wolf on how much capital banks should be required to hold: The new regulatory regime is an astonishingly complex response to the failures of this model. But \u201ckeep it simple, stupid\u201d is as good a rule in regulation as it is in life. The sensible solution seems clear: force banks to fund themselves with &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2014\/09\/07\/financial-reform-call-to-arms-ft-com\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Financial reform: Call to arms | FT.com&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[31,33,34],"tags":[346,2090,2974],"class_list":["post-10835","post","type-post","status-publish","format-standard","hentry","category-the-fed-banks-interest-rates","category-uk-europe-countries-regions","category-us-canada-countries-regions","tag-bank-capital-adequacy","tag-leverage-ratio","tag-risk-weighting"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Financial reform: Call to arms | FT.com - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Financial reform: Call to arms | FT.com - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Martin Wolf on how much capital banks should be required to hold: The new regulatory regime is an astonishingly complex response to the failures of this model. But \u201ckeep it simple, stupid\u201d is as good a rule in regulation as it is in life. 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The world's top 30 \u201csystemically important\u201d banks will be required to substantially increase their capacity to absorb losses without requiring a bailout. The\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10459,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/07\/30\/shilling-big-banks-shift-to-lower-gear-the-big-picture\/","url_meta":{"origin":10835,"position":3},"title":"Shilling: Big Banks Shift to Lower Gear | The Big Picture","author":"ColinTwiggs","date":"July 30, 2014","format":false,"excerpt":"Gary Shilling describes how US regulators are getting tough with big banks: Break-Up Like unscrambling an egg, it\u2019s hard to envision how big banks with many, many activities could be split up. But, of course, one of the arguments for doing so is they\u2019re too big and too complicated for\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Bank Price-to-Book Ratios","src":"https:\/\/i0.wp.com\/d21uq3hx4esec9.cloudfront.net\/uploads\/newsletters\/Image_5_20140730_OTB.gif?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/d21uq3hx4esec9.cloudfront.net\/uploads\/newsletters\/Image_5_20140730_OTB.gif?resize=350%2C200 1x, https:\/\/i0.wp.com\/d21uq3hx4esec9.cloudfront.net\/uploads\/newsletters\/Image_5_20140730_OTB.gif?resize=525%2C300 1.5x"},"classes":[]},{"id":10378,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/07\/21\/jon-cunliffe-the-role-of-the-leverage-ratio\/","url_meta":{"origin":10835,"position":4},"title":"Jon Cunliffe: The role of the leverage ratio&#8230;.","author":"ColinTwiggs","date":"July 21, 2014","format":false,"excerpt":"Sir Jon Cunliffe, Deputy Governor for Financial Stability of the Bank of England, argues that the leverage ratio -- which ignores risk weighting when calculating the ratio of bank assets to tier 1 capital -- is a vital safeguard against banks' inability to accurately model risk: ..... while the risk-weighted\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15610,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/07\/20\/australia-apra-capitulates-to-big-four-banks\/","url_meta":{"origin":10835,"position":5},"title":"Australia: APRA capitulates to Big Four banks","author":"ColinTwiggs","date":"July 20, 2017","format":false,"excerpt":"From Clancy Yeates at The Age: Quelling investor fears over moves to strengthen the financial system, the Australian Prudential Regulation Authority on Wednesday said major banks would have until 2020 to increase their levels of top-tier capital by about 1 percentage point, to 10.5 per cent. 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