Dear Prudence

This is no time for hiding from the new reality, say Brett Hillis, Emma Radmore and Madeleine de Remusat. They outline recent developments and help us open up our eyes to face the future of bank capital regulation.

Brett Hillis is a partner, Emma Radmore is a senior associate and professional support lawyer and Madeleine de Remusat is an associate in SNR Denton’s financial markets and regulation group. Contact them on firstname.surname@snrdenton.com.

Global: Basel and G20

Basel II

Basel II has been around since 2006 or so (depending on when member countries implemented the Basel II accord agreed in 2004). Basel II was intended to overcome the shortcomings of Basel I, which was considered too simplistic and not sufficiently sensitive to risk, but the financial crisis highlighted that significant failings remained. The Basel Committee on Banking Supervision’s agenda for strengthening the rules of Basel II included the need to address concerns that it: