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The India Business Initiative at the Chazen Institute of International Business, the S.P. Jain Institute of Management and Research, and the Columbia Global Centers | South Asia cordially invite you to a special symposium:
Basel III Capital and Liquidity Standards:
Are Indian Banks Ready for the Transition?
Monday, December 29, 2014, 6:30 p.m. in Mumbai
Featuring Suresh Sundaresan, Chase Manhattan Bank Foundation Professor of Financial Institutions, Columbia Business School, Faculty Director, India Business Initiative, The Jerome A. Chazen Institute of International Business at Columbia Business School
Where: S.P. Jain Institute of Management and Research, Inside Bhavans College Campus, Munshi Nagar | Dadabhai Road, Andheri West | Mumbai
About the talk: The transition period from now to a state in which all banks are Basel III-compliant may also lead to an uneven playing field for banks in India. Basel III raises capital requirements for banks and links them to the risk-weighted assets (RWA) of the banks under more stringent definitions of risk. Already these rules might have caused the banks to shed inventory positions in riskier assets (such as corporate bonds) and this has affected the secondary market liquidity significantly in developed markets.
Standard and Poor estimates that the Basel regulations were responsible for an average threefold increase in banks’ capital charge on traded market risk. The emphasis placed on equity capital and loss-absorbing capital may require the banks in India to issue significant amounts of equity capital and contingent convertible (CoCo) bonds: this will be hard for Indian banks as the bond markets in India are still not well developed, and the ability of the banks to tap this type of hybrid capital is yet untested. Indian banks are however not significantly exposed to securitization and credit correlation risks, and that should help them in managing their RWA.
About Suresh Sundaresan: Suresh Sundaresan is the Chase Manhattan Bank Foundation Professor of Financial Institutions at Columbia University. He has published in the areas of Treasury auctions, bidding, default risk, habit formation, term structure of interest rates, asset pricing, investment theory, pension asset allocation, swaps, options, forwards, futures, fixed-income securities markets and risk management. His research papers have appeared in major journals such as the Journal of Finance, Review of Financial Studies, Journal of Business, Journal of Financial and Quantitative Analysis, European Economic Review, Journal of Banking and Finance, Journal of Political Economy, etc. He has also contributed articles in Financial Times, and World Bank Conferences. He is an associate editor of Journal of Finance and Review of Derivatives Research. His current research focus is on default risk and how its affects asset pricing and sovereign debt securities.
Registration is required. There is no cost for this event.
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Registration now open for “Basel III Capital and Liquidity Standards: Are Indian Banks Ready?,” Dec. 29 in Mumbai, featuring Suresh Sundaresan of Columbia Business School.
Chazen Study Tour bidding has closed. Please email Chazen@columbia.edu to be added to the waitlist.