Basel Committee will not impose CoCo requirement for Sifis

The Basel Committee on Banking Supervision will not set global minimum requirements for loss-absorbing debt, on top of the recently proposed surcharge for systemically important financial institutions (Sifis), according to Stefan Walter, secretary general of the Basel Committee.

This will put global standards at odds with some national regulators, which have already started to develop their own rules for the systemically important institutions in their jurisdictions. Earlier this month, the