I always appreciate receiving an invite to the IFR bank capital conference and this year's 16th annual FIG conference was by all accounts excellent. I recall attending a previous conference during the crisis period which heralded in a new era of instruments (CoCos for example) when the event transitioned from a dual purpose funding and capital conference to a more complex mix of FIG liability options. I missed attending this year but Keith Mullin has helpfully written about last week's conference in this week's IFR dated November 21st 2015.
Mullin starts out by indicating that the importance of the so-called four horsemen of banking - capital, liquidity, leverage and resolution - continue to dominate the banking agenda. However he laments that the agenda has become more complex with more players: So many agencies - domestic, regional, global - and so many jurisdictions, so many rules, so many consultations, so much direction of travel, so much partial clarity (read: partial darkness). It's almost an impenetrable maze, he says.
Mullin also identifies some current agenda items to include TLAC eligible debt and issuing levels at the US holding, parent companies, the impact of ringfencing, and jurisdiction-by-jurisdiction treatment of TLAC as on the table. The game of banking twister continues ....
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