Addressing the Tax Challenges of the Digitisation of the Economy

We welcome the opportunity to provide input as part of the OECD’s consultation set out in the public consultation document “Addressing the Tax Challenges of the Digitalisation of The Economy – 13 February – 6 March 2019”. Euro  In our letter we refer to our paper dated 25 September 2018 setting out some of the concerns of the International Banking Federation (IBFed) in relation to the taxation of global banks, and how banks differ from highly digitalised businesses which featured as the primary focus of the OECD’s interim report in March 2018. In our current paper we explain further how banks generally have a regulated / licences presence in the… Read More

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Revisions to Basel 3 and the treatment of securities financing transactions

IBFed letter to BCBS on capital treatment of SFTs_11jan19 The IBFed appreciates the Basel Committee on Banking Supervision (BCBS) efforts to revise the Basel 3 standards.  The International Banking Federation (IBFed) has submitted numerous letters to the BCBS discussing various Basel 3 revisions and making recommendations for practical, and objective-focused ways those standards can be adopted. We anticipate that as domestic jurisdictions begin adopting the latest round of finalized standards, issues that were not previously anticipated or fully appreciated will present themselves. This letter addresses one of these specific issues, the minimum haircut floors for Securities Financing Transactions (SFTs), about which we have not previously commented.  

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