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Guernsey Consultation Launched On Adoption Of Basel III

by Jason Gorringe, Lowtax.net, London
10 July, 2015

Guernsey has launched a public consultation on proposals to enhance rules on the capitalization of banks under Basel III.

The Basel III capital adequacy standard came about after the global financial crisis to improve the liquidity of the banking sector and establish safeguards for downturns.

The changes Guernsey would need to make to adopt this standard are as follows:

  • Revised definitions of regulatory capital;
  • Establishment of new minimum regulatory capital requirements;
  • Changes to the calculation of Risk Weighted Assets; and
  • The introduction of a Leverage Ratio Reporting Requirement.

The consultation period will run until October 9, 2015.

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