This weekend banks got a big win from Basel, easing liquidity requirements more than expected. Banks surged after unexpected win over the weekend.
How memories fade. Five years ago the UK had witnessed the first run on a bank – Northern Rock – since 1866 while the panic that followed a year later when Lehman Brothers collapsed led to £65bn of taxpayer money being poured into Royal Bank of Scotland, Lloyds and HBOS.
Indeed in 2010 Lord Turner, chairman of the Continue reading “Basel’s Diluted Liquidity Rule Compounds Capital Failure”