“Basel III Monitoring Report March 2016 March 2016: This report presents the results of its latest Basel III monitoring exercise. The Committee established a rigorous reporting process to regularly review the implications of the Basel III standards for banks…The results of the monitoring exercise assume that the final Basel III package is fully in force, based on data as of 30 June 2015…Basel III’s Liquidity Coverage Ratio (LCR) was set at 60% in 2015, increases to 70% in 2016 and will continue to rise in equal annual steps to reach 100% in 2019.”
All banks reported an LCR [Liquidity Coverage Ratio] at or above the 60% minimum requirement that was in place for 2015.
BINGO…HUGE HUGE HUGE…
[They have to be basel III compliant for international banking.]
EVERY BANK needs to be! BINGO!
[So, does that mean they are Article 8?]
Indirectly but mostly global requirements that effect contracts!
And transparency.
But…NOTHING can happen without the the stamp of approval from the BIS…Bank of INTERNATIONAL Settlements.
[Sounds like they are getting there.]
Not getting there… DONE !
IMF can’t do anything without the BIS stamp of approval.
The way a currency reform works is:
1: The country in question sends a letter of intent to the IMF.
2: The IMF reviews the request. If they approve it it sent to the BIS.
3: The BIS either approves it or denies it.
4: If it is approved, the IMF is notified.
5: The IMF informs the country in question of the conclusion. 6: …………….
A currency reform is a process, it’s NOT as simple as just pushing a button. Lots of legality involved.
