Author: David Schwartz J.D. CPA
In speeches on April 5 and May 25, 2017, William Coen, Secretary General of the Basel Committee, hinted that final Basel III standards are “just around the corner.” Despite a setback in January 2017 in which the Committee members could not reach accord on the calibration of the aggregate output floor, Coen signaled optimism for the upcoming meeting the Committee in June. In a May 25 speech, Coen announced that ‘based on feedback from the consultative process and the results of our impact studies, the Committee has largely completed the technical work needed to revise the framework.” Despite this optimism, calibration of the output floor still remains somewhat of a sticking point, one that Coen says “is the final piece of the jigsaw.”