Basel III: Challenges for Emerging Markets
This course reviews the impact and implementation challenges of the Basel framework for emerging market, developing and small economies.
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Risk Fundamentals
- Why risk management?
- What is capital?
- Systemic Risk: The rationale for prudential risk regulation
The Road to Basel III
- Basel I: The 1988 BIS accord
- Market Risk: The 1996 Amendment
- Basel II
- Basel 2.5
Basel III
- Capital definitions and requirements
- Capital conservation buffer
- Countercyclical buffer
- Leverage ratio
- Liquidity coverage ratio
- Net stable funding ratio
- Counterparty credit risk
The BCBS Agenda and EMDE Interests
- A history of exclusion
- Basel I and II implementation track record
- The impact of the global financial crisis on EMDE interests and BCBS credibility
- EMDE members of the BCBS
Knowledge and Resource Constraints in EMDE’s
- Connectedness of EMDE financial markets to developed financial markets
- External assets of EMDE banks
- Strategies to enhance expertise in EMDE’s
- A role for the IMF and World Bank
Establishing Incentives for EMDE’s to Mobilize
- Perceived benefits and costs of Basel III compliance in EMDE’s
- The track record to date
- Softening Basel III: Buying time for EMDE’s
Case Studies
- Brazil
- China
- India
- Mexico
- South Africa