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ARTICLE · 25 MARCH 2013

Basel III – Amendments To The Liquidity Coverage Ratio

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On January 6, 2013, the Group of Governors and Heads of Supervision, which oversees the Basel Committee on Banking Supervision, announced it would be amending the Basel III liquidity coverage ratio.

CanadaFinance and Banking
Francesca Guolo
Francesca Guolo
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On January 6, 2013, the Group of Governors and Heads of Supervision (the “GHOS”), which oversees the Basel Committee on Banking Supervision (the “Basel Committee”), announced it would be amending the Basel III liquidity coverage ratio (the “LCR”). In connection with the announcement, Mervyn King, chair man of the GHOS and governor of the Bank of England, stated that for the first time in regulatory history, there will be a truly global minimum standard for bank liquidity.

In particular, (i) a phased timetable to introduce the LCR, and (ii) reaffirmation that a bank’s liquid assets are available in times of stress, will help ensure the new liquidity standard does not hinder the global banking system’s ability to finance a recovery.

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