Basel Committee on Banking Supervision Chairman Nout Wellink said Tuesday that central bankers and regulators will finalize solid rules on systemically important financial institutions by mid-2011.
At a press conference after a meeting in Seoul, Wellink said officials will discuss methodology in more detail at their meeting in late November and present a list of "too big to fail" banks to the Financial Stability Board. Wellink also hailed the agreement by officials on important details of the liquidity coverage ratio at Tuesday's meeting. A person close to the Basel Committee said these points include: inflow assumptions; the need to use both credit agency ratings and additional criteria to determine the contents of the buffer of assets; and the treatment of cooperative networks of smaller banks.
