Abstract
This article considers the effectiveness of Basel II and Basel III as international standards of banking regulation and examines how international financial regulation should be rebuilt post the financial crisis. The article argues that international efforts at macro-prudential regulation have so far been inadequate and reflect in part inadequate institutional linkages between the newly-established Financial Stability Board and the International Monetary Fund and the regulatory uncertainty involved in using international soft law to build an effective international financial regulatory regime that controls systemic risk.
Alexander, Kern