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"timeline" for the launch of the Global ILP
I kept reading about the BASEL III Liquidity Standard.
BASEL : Basel III is a global, voluntary regulatory framework on bank capital adequacy, stress testing, and market liquidity risk.
I kept reading about the BASEL III Liquidity Standard.
BASEL : Basel III is a global, voluntary regulatory framework on bank capital adequacy, stress testing, and market liquidity risk.
The original Basel III rule from 2010 required banks to fund themselves with 4.5% of common equity (up from 2% in Basel II)
AND HERE COMES THE FUN PART!
...Banks have to hold a total of 7% CET1 capital ratio, from 2019 onwards"
en.wikipedia.org/wiki/Basel_III
AND HERE COMES THE FUN PART!
...Banks have to hold a total of 7% CET1 capital ratio, from 2019 onwards"
en.wikipedia.org/wiki/Basel_III
On 24 October 2013, the Federal Reserve Board of Governors approved an inter agency proposal for the U.S. version of the Basel Committee on Banking Supervision (BCBS)'s Liquidity Coverage Ratio (LCR)
The Basel Committee
established by the central bank governors of the Group of Ten countries in 1974
The Committee's Secretariat is located at the Bank for International Settlements (BIS) in Basel, Switzerland
bis.org/bcbs/history.h…
established by the central bank governors of the Group of Ten countries in 1974
The Committee's Secretariat is located at the Bank for International Settlements (BIS) in Basel, Switzerland
bis.org/bcbs/history.h…
IT ALL GOT DELAY in 2015.... WHY would that BE?!
"Basel III was agreed upon by the members of the Basel Committee on Banking Supervision in November 2010, and was scheduled to be introduced from 2013 until 2015; however, implementation was extended repeatedly to 31 March 2019"
"Basel III was agreed upon by the members of the Basel Committee on Banking Supervision in November 2010, and was scheduled to be introduced from 2013 until 2015; however, implementation was extended repeatedly to 31 March 2019"
The higher their "high Liq asset" in their portfolio, the better the bank is positioned!
"The Liquidity Coverage Ratio (LCR) requires banks to have sufficient high-quality liquid assets to withstand a 30-day stressed funding scenario
that is specified by supervisors"
"The Liquidity Coverage Ratio (LCR) requires banks to have sufficient high-quality liquid assets to withstand a 30-day stressed funding scenario
that is specified by supervisors"
My conclusion, in 2019 Banks need to have a higher liquidity because of Basel III. The tools for high liquidity has been given.
The less exposure a banks has to Nostro/Vostro accounts, the more liquid they are. Thus, more "privileges" the banks will have.
#XRPTHESTANDARD
#0Doubt
The less exposure a banks has to Nostro/Vostro accounts, the more liquid they are. Thus, more "privileges" the banks will have.
#XRPTHESTANDARD
#0Doubt
THE ONE thing I am missing!
When will the CB's hold the digital assets themselves!?
The crypto-exchanges, are only acting like a testing-lab!
High value / High volume, will be controlled and supervised by the Banks themselves. For that to happen they need to hold a digital asset
When will the CB's hold the digital assets themselves!?
The crypto-exchanges, are only acting like a testing-lab!
High value / High volume, will be controlled and supervised by the Banks themselves. For that to happen they need to hold a digital asset
It got pushed back (AGAIN)
fsb.org/work-of-the-fs…
It starts with:
"Full, timely and consistent implementation of Basel III is fundamental to a sound and properly functioning banking system that is able to support economic recovery and growth on a sustainable basis......
fsb.org/work-of-the-fs…
It starts with:
"Full, timely and consistent implementation of Basel III is fundamental to a sound and properly functioning banking system that is able to support economic recovery and growth on a sustainable basis......
....Consistent implementation of Basel standards will also foster a level playing field for internationally active banks."
Does this mean that, before 1 January 2022 all Banks must be READY?
2years and 9months........
Does this mean that, before 1 January 2022 all Banks must be READY?
2years and 9months........
Its unclear WHO is causing the delays
"Delayed implementation may have implications for the level playing field and puts unnecessary pressure on jurisdictions that have implemented or plan to implement the standards based on the agreed timelines"
BUT there is PRESSURE!
"Delayed implementation may have implications for the level playing field and puts unnecessary pressure on jurisdictions that have implemented or plan to implement the standards based on the agreed timelines"
BUT there is PRESSURE!
EU lacking behind?
The CB’s of Canada and Singapore said to be the first who have send DA to each other. First tests are being done.
Crawl, walk, run.
We are getting closer and closer.
thexrpdaily.com/index.php/2019…
Crawl, walk, run.
We are getting closer and closer.
thexrpdaily.com/index.php/2019…
We know that several CB’s have deployed real-time payments in their country. TIPS, Jasper, Chaps etc
We are far beyond PoC.
This test between 2 CB is HUGE!
This make me stronger to believe that regulatory clearance will be given at the G20 in 🇯🇵
Q3 will be very interesting
We are far beyond PoC.
This test between 2 CB is HUGE!
This make me stronger to believe that regulatory clearance will be given at the G20 in 🇯🇵
Q3 will be very interesting
Thanks to @LeoHadjiloizou
We can have a glans of all the work being done before the G20 Top happens
Ones they figured out how and where to cut the cake, they will let unleash the DA into the world!
uscib.org/uscib-content/…
We can have a glans of all the work being done before the G20 Top happens
Ones they figured out how and where to cut the cake, they will let unleash the DA into the world!
uscib.org/uscib-content/…
Digging a bit deeper, got me to Base Erosion and Profit Shifting (BEPS).
They want to share a lot of Info with each other, so that every person /company pays his/her share of TAX
oecd-ilibrary.org/docserver/9789…
They want to share a lot of Info with each other, so that every person /company pays his/her share of TAX
oecd-ilibrary.org/docserver/9789…
BEPS Actions
oecd.org/tax/beps/beps-…
BIG BROTHER IS GETTING BIGGER
And is being created in front of our eyes.
The FULL bull run of utility might take some time, before they all agree in how to collect/share the taxes on a global scale.
Digitization you gotta love it
oecd.org/tax/beps/beps-…
BIG BROTHER IS GETTING BIGGER
And is being created in front of our eyes.
The FULL bull run of utility might take some time, before they all agree in how to collect/share the taxes on a global scale.
Digitization you gotta love it
Central Banks are key
BACK TO BEPS
What are the facts?
oecd.org/ctp/myths-and-…
1 of 10
FACT:
The OECD/G20 Base Erosion and Profit Shifting Project
involves input from more than 80 countries, including the 34
members of the OECD, all G20 members, and more than 40
developing countries.
What are the facts?
oecd.org/ctp/myths-and-…
1 of 10
FACT:
The OECD/G20 Base Erosion and Profit Shifting Project
involves input from more than 80 countries, including the 34
members of the OECD, all G20 members, and more than 40
developing countries.
THE MOTIVATION for global TAX agreement:
"conservatively calculates that governments are losing up to ¼ of a trillion dollars of tax revenues annually"
"conservatively calculates that governments are losing up to ¼ of a trillion dollars of tax revenues annually"
What is just as important as taxes? Well that would be security.
So the G7 (the smaller&stronger group of the G20) are doing some cross border testing.
reuters.com/article/us-g7-…
So the G7 (the smaller&stronger group of the G20) are doing some cross border testing.
reuters.com/article/us-g7-…
Seeing that CB’s are at the center of all of this, nothing happens until they give the green light.
#0doubt #XRPTheBase #ripple #XRPtheStandard
#0doubt #XRPTheBase #ripple #XRPtheStandard
