We also find ourselves looking at a less auspicious anniversary, namely that of the still ongoing debate on Basel III – I spoke to you at this very occasion one year ago. Which is why I would like today to offer an answer on where we stand right now.
The short version of my answer is that, technically speaking, Basel III has been finalised: a compromise is within reach. 2 The Basel III compromise is better than its reputation The first remark I wish to make is this. The Basel III compromise we are looking at is better than its reputation.