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The following will be discussed in this chapter: Background, main framework, background, objective, the accord in operation, the three pillars, basel and regulators, basel ii and the global financial crisis. | MBF-705 LEGAL AND REGULATORY ASPECTS OF BANKING SUPERVISION OSMAN BIN SAIF Session: EIGHT Summary of previous session SECTION 2: REGULATING BANK CAPITAL ADEQUACY What is Capital Adequacy Regulations 5C’s of Credit Regulatory Capital Tier 1 Capital Tier 2 Supplementary Capital Revaluation Reserves 2 Summary of previous session (Contd.) General Provisions Hybrid Debt Capital Instrument Sub-ordinated term debt Different international implementations 3 Agenda of this session BASEL I Background Main Framework BASEL II Background Objective The accord in operation The three pillars Basel and Regulators BASEL II and the global financial crisis. 4 BASEL I 5 Basel I Basel I is the round of deliberations by central bankers from around the world, and in 1988. The Basel Committee on Banking Supervision (BCBS) in Basel, Switzerland, published a set of minimum capital requirements for banks. This is also known as the 1988 Basel Accord, and was enforced by law in the Group of Ten (G-10) countries in | MBF-705 LEGAL AND REGULATORY ASPECTS OF BANKING SUPERVISION OSMAN BIN SAIF Session: EIGHT Summary of previous session SECTION 2: REGULATING BANK CAPITAL ADEQUACY What is Capital Adequacy Regulations 5C’s of Credit Regulatory Capital Tier 1 Capital Tier 2 Supplementary Capital Revaluation Reserves 2 Summary of previous session (Contd.) General Provisions Hybrid Debt Capital Instrument Sub-ordinated term debt Different international implementations 3 Agenda of this session BASEL I Background Main Framework BASEL II Background Objective The accord in operation The three pillars Basel and Regulators BASEL II and the global financial crisis. 4 BASEL I 5 Basel I Basel I is the round of deliberations by central bankers from around the world, and in 1988. The Basel Committee on Banking Supervision (BCBS) in Basel, Switzerland, published a set of minimum capital requirements for banks. This is also known as the 1988 Basel Accord, and was enforced by law in the Group of Ten (G-10) countries in 1992 . 6 Basel I (Contd.) Basel I is now widely viewed as outmoded. The world has changed as financial conglomerates, financial innovation and risk management have developed, and a more comprehensive set of guidelines, known as Basel II, are in the process of implementation by several countries. Basel III was developed in response to the financial crisis. 7 Background The Committee was formed in response to the messy liquidation of a Cologne-based bank (Herstatt Bank) in 1974. On 26 June 1974, a number of banks had released Deutsche Mark (German Mark) to the Herstatt Bank in exchange for dollar payments deliverable in New York. 8 Background (Contd.) On account of differences in the time zones, there was a lag in the dollar payment to the counterparty banks, and during this gap, and before the dollar payments could be effected in New York, the Herstatt Bank was liquidated by German regulators. 9 Background (Contd.) This incident prompted the G-10 nations to form towards the end of .
