Basel rules force small countries to face irrelevant risks – Bahamas governor
Stress-testing parameters irrelevant for many small jurisdictions, Rolle says
Banking regulations set by international bodies are forcing the regulators of smaller countries to ignore some of the biggest risks they face, according to the governor of the Central Bank of the Bahamas.
Small countries often have “difficulty interfacing” with international financial rule-making bodies because they are not set up to do so, John Rolle said on October 30.
He made his remarks in a strongly worded speech to representatives from the Basel Committee on Banking Supervision (BCBS)
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