A hardening of positions between the proponents and critics of the updated Basel Accords, commonly known as Basel III, could be highly damaging to trade finance and the global economy. Rather, a more rational approach is needed, says Tan Kah Chye, transaction banking global head of corporate cash and trade at Standard Chartered. “This is not the time to dig in on positions we need dialogue,” he said.”We need to cut emotions aside and focus on the issues and have a constructive discussion on how to resolve the matter.”
Critics of Basel III -- and there are many according to sources, the European Commission promised last month in writing to take the case...
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