In mid September, the Basel Committee on Banking Supervision (see Update 63) released its “Basel III” rules. José Vinals, director of the IMF’s monetary and capital markets department praised the regulations as “a substantial step forward in addressing the micro-prudential failings in the areas of capital and liquidity buffers in banks”. However, independent commentators disagreed. Martin Wolf of the Financial Times says that “Basel has laboured mightily and brought forth a mouse. Needless to say, the banking industry will insist the mouse is a tiger.” He adds that trebling of capital reserves “sounds tough”, but “trebling almost nothing does not give one very much.”
This briefing examines the trajectory of China's evolving leadership in international development finance, including the impact of it's massive increase in development finance for developing countries.
This briefing provides an overview of the immunity of international organisations in US law, looking at a lawsuit brought against the IFC regarding the Tata Mundra coal power plant in India.
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