There is broad consensus that the post-crisis prudential regulatory reforms have significantly enhanced the resilience of banks globally and contributed to safeguarding financial stability. However, 17 years after the onset of the Great Financial Crisis (GFC) and a decade after the implementation of the initial Basel III standards in many jurisdictions, it is worth reflecting on how the new framework has performed and considering possible adjustments to address its shortcomings and unintended consequences.
Ongoing discussions on this matter reveal a regulatory debate shaped by opposing forces, each advocating for different directions in regulatory stringency.
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