In promoting global financial stability, the Basel Committee for Banking Supervision appears to have stumbled.

Banking systems in Russia, Korea, Thailand, Indonesia, and Brazil have run themselves into the ground during the last five years, borrowing billions of dollars from the West to finance loans that had little chance of being repaid.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.