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29 February 2012

S&P examines consequences of Basel III and Solvency II


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S&Pは世界の保険及び銀行業界は相互依存の関係があると述べた。保険会社は加入者から受け取る保険料を安全に投資する必要がある一方、銀行は業務に必要な資金を調達する必要がある。


In Standard & Poor's Ratings Services' view, the Basel Committee on Banking Supervision's new global standards for banks' liquidity and capital adequacy (Basel III) and the EU's Solvency II Directive could interact with unintended consequences. By tightening the regulatory requirements in the aftermath of the financial crisis, global policymakers may inadvertently damage the cross-sectoral links between insurers and banks.

Through Basel III, regulators are prompting banks to strengthen capital, obtain more long-term financing, and replace existing hybrid capital structures with hybrid instruments that are much more like equity. At the same time, through Solvency II, regulators may be introducing incentives for insurers in Europe to reduce their exposure to banks. So far, insurers have shown little appetite for the enhanced equity features of banks' newer hybrid instruments. If this pattern holds when Solvency II takes full effect, the cost of bank capital may rise, dampening bank credit quality and global economic well being.

Press release



© Reuters


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