The implementation deadline for capital requirements adopted by the Basel Committee on Banking Supervision is too long, and may lack relevance by the time that date arrives, according to Chris Brummer, a senior fellow at the Milken Institute. Speaking at a conference sponsored by the institute, Brummer said while many firms are working to implement the rules before the Jan. 1, 2019 deadline, others are likely to let the clock run. He added, “There is obviously a risk in that latter scenario. By the time they wait, another crisis can occur and we will be talking about Basel IV.”
