International Prudential Standards in a World of Growing Nationalism and Protectionism /

The Bank for International Settlements and, in the wake of the global financial crisis, Basel hosts the BCBS secretariat. [...] The challenge reality the impact the banking system has on the regulators face now is balancing the desire to keep economy and the types of regulation that will perfecting their regulations with the need to get succeed in protecting both. [...] G-SIFI banks.8 By the same token, the BCPs have played banks are also expected to prepare rigorous recovery an important role in helping bank supervisors and resolution plans and have provisions in place around the world up their game.9 to convert some of their senior unsecured debt A review of these Basel Accords begs the obvious obligations into capital in the event the bank ceases questions: on [...] The notable exceptions, however, Accords, or other such standards, because: are the two most important banking markets – • adhering to these standards contributes to their the European Union and the United States.10 reputation as a sound financial centre, which can Smaller jurisdictions have the most to gain from help attract foreign investment and facilitate the implementing the agreed standards [...] The resulting review reports are published on safety and soundness of Canadian branches and the BCBS website so that the whole world can see 10 The Basel Committee graded the EU as “materially non-compliant” mainly due to its failure to implement some of the capital requirements related to derivatives transactions as well as for its more lenient treatment of loans to small- and medium-sized enterp