New Basel III rules decided

The Basel Committee on Banking Supervision announced new rules in hopes of making the global banking industry safer. Will the new rules work? LAW professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and former counsel to the Fed Board of Governors, gives his view on the impact of the new agreement.

“The Basel agreement reflects two troubling phenomena: first, international acquiescence to the continued existence of ‘t00 big to fail’ banks; and second, the exultation of capital over risk management as the primary supervisory tool.”

Contact Cornelius Hurley at ckhurley@bu.edu, 617-353,5427 or on Twitter @ckhurley

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