Basel III Is a Grand Compromise, Not a Bold Initiative

Dimitris N. Chorafas

Chapter 4 in Basel III, the Devil and Global Banking, 2012, pp 60-81 from Palgrave Macmillan

Abstract: Abstract Damaged by the Great Depression — though not by a self-inflicted injury, as happened in 2007 — banks used the capital they obtained from the Reconstruction Finance Corporation (RFC)1 to redress their balance sheets rather than lending. Global banks in the USA, the UK, Germany, France, Belgium and the Netherlands repeated that practice with the lavish amount of money they received from governments during the recent economic crisis. And Japanese banks have done the same, on and off since the early 1990s.

Keywords: Equity Capital; Leverage Ratio; Capital Ratio; Credit Institution; Capital Adequacy (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-0-230-35842-3_4

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DOI: 10.1057/9780230358423_4

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