FDIC and Fed issue “Notice of Proposed Rulemaking” to adopt Basel III

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Musings On The Finite Statist Machine

Thanks to Les for this information:

FDIC and Fed issue “Notice of Proposed Rulemaking” to adopt Basel III

Last week, the FDIC and the Fed issued a “Notice of Proposed Rulemaking” to adopt the Basel III capital requirements. If this new rule is adopted as proposed, gold would shift to a zero-risk weighting for purposes of calculating bank capital by the year 2015. Such a move would eventually place gold at the heart of global currency and payment systems — seemingly a shift back towards a gold standard.

This action is a strong confirmation that gold’s primary trend will likely continue.

http://www.fdic.gov/news/board/2012/2012-06-12_notice_dis-b_mem.pdf

http://www.federalreserve.gov/aboutthefed/boardmeetings/risk-based_leverage_capital_requirements_FR_final_draft_20120607.pdf

http://www.treasury.gov/initiatives/fsoc/Documents/2012%20Regulatory%20Developments;%20Council%20Activities.pdf

http://www.kpmg.com/US/en/IssuesAndInsights/ArticlesPublications/dodd-frank-series/Documents/dodd-frank-beyond-newsletter-june-2012.pdf

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