Revisions to liquidity coverage ratio expected to reduce burden on banking organisations
On 7 January 2013, the Basel Committee on Banking Supervision (BCBS) released highly anticipated revised rules (the 2013 Rules) governing the Liquidity Coverage Ratio (the LCR) included in the Basel III framework finalized in December 2010 (the 2010 Proposal). The LCR is intended to improve short-term resilience to liquidity risk by requiring banking organisations to hold high-quality liquid assets (HQLA) that can be quickly and easily monetised to cover their liquidity needs over a 30-day liquidity stress scenario.
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As the equity capital markets rocketed back into favour and global M&A saw at least a partial return to form, there have been some rich pickings for The Lawyer’s Corporate Team of the Year award shortlisted firms in 2014.
Footie and telecoms dominate our regular round-up of recent M&A activity, as the threat of rising interest rates kick-started activity among organisations.