#Basel III Reform

[kevinmmiller]

Treaty of the European Union and Basel III Reforms

Abstract: First I give a brief overview of Article 107 of the Treaty of the EU(TEU). Next, I give a summation of the issues which have come up for the EU in the last decade which have affected state aid, and the guarantees inherent in the Treaty of the EU

Abstract: First I give a brief overview of Article 107 of the Treaty of the EU(TEU). Next, I give a summation of the issues which have come up for the EU in the last decade which have affected state aid, and the guarantees inherent in the Treaty of the EU. These include the Greek Debt Crisis, as well as extraterritorial measures which have been taken an order to further enhance the quality, and…

[darkmaga-returns]

Basel III is a global banking reform designed to prevent another 2008-style collapse. Think of it as a financial safety checklist: banks must hold more “emergency savings,” avoid excessive risk, and stay liquid enough to survive 30 days of chaos.

Although you’ll never hear about Basel III from Jim Cramer or other talking heads on financial networks, Basel III is the reason the world’s biggest financial institutions are already preparing — buying gold in record amounts. It is, hands down, one of the key drivers behind gold’s recent breakout. And, if we were conspiracy-minded, it’s very likely part of the reason the US government has been talking about auditing the gold in Fort Knox and the President recently announced: “He who has the gold, makes the rules.”

(We fear that might just be bravado, as we await the results of the audit. But that’s another story.)

Starting July 1, gold will be upgraded from a “Tier 3” to a “Tier 1” asset — putting it on par with cash and US Treasuries. Right now, banks are required to discount the value of gold by 50% on their balance sheets. Under the new rule, it will be treated as a zero-risk asset and valued at 100% of its market price.

That means banks will no longer need to hold extra capital to back their gold holdings — making it far more attractive as a reserve asset.

So, how does this affect gold prices in 2025? Since Basel III says banks can use gold to meet their safety requirements, banks are buying it up in droves and this demand is pushing gold prices higher, as banks compete with investors who also want gold as a safe haven during uncertain times.

[mybeautifulchristianjourney]

Today in Christian History

Today is Thursday, April 25th, 2024. It is the 116th day of the year in the Gregorian calendar; Because it is a leap year, 250 days remain until the end of the year.

62: Death of Mark the Gospel writer while imprisoned in Alexandria in the eighth year of Nero, according to Vetus martyrologium romanum (an old Roman collation of martyr accounts).

799: Pope Leo III is attacked, his eyes stabbed, and his tongue torn. He recovers and later crowns Charlemagne as emperor.

1449: The ineffectual Council of Basel ends.

1479: Death of Sylvester of Obnorsk, a Russian Orthodox hermit who had lived off roots and bark. Eventually he had established a monastery.

1564: John Calvin, reformer of Geneva, dictates his last will and testament to notary Peter Chenalat.

1595: Death from a fever in the convent of St. Onofrio of Italian poet Torquato Tasso. Ironically, he was supposed to receive a laurel from the pope on this day in recognition of his epic poems, among which Jerusalem Delivered had been the most acclaimed.

1735: Death at Epworth, England, of Samuel Wesley, curate, author, and father of Methodist revival leaders John and Charles Wesley.

1800: Death at East Dereham, Norfolk, England, of English poet William Cowper (pictured above). Despite lifelong depression, he had produced enduring hymns, including, “Oh For a Closer Walk with God” and “There is a Fountain Filled with Blood.” Dementia had led him to believe he was damned.

1879: Consecration of J. B. Lightfoot as Bishop of Durham. A renowned English New Testament scholar, he had left Cambridge and a life of scholarship to devote the remaining ten years of his life to church administration.

1889: Death at Mt. Pleasant, Michigan, of Anzentia Igene Perry Chapman. A member of the Free Methodist Church, she wrote a number of hymns, including, “Thou Shalt Rest at Eve,” and “We’ll Never Say Goodbye.”

1917: Ordination of Paul Sasaki as a priest in the Anglican Church in Japan. He will become bishop of Nippon Sei Ko Kei (an independent church organization within the Anglican Communion), and suffer imprisonment for his refusal to bring Nippon Sei Ko Kei under the authority of a government-ordered church coalition.

[reality-detective]

GESARA👉 Unleashing Global Prosperity - AMG News

Let’s start with the Global Economic Security and Reformation Act or GESARA. This revolutionary reform movement aims to rectify economic disparities, restore financial stability, and promote global peace and prosperity. It’s not merely about changing the rules of the game; it’s about changing the game itself.

From forgiving debt to abolishing income tax and creating flat-rate non-essential taxes, GESARA promises a world where financial stress and economic inequality become relics of a bygone era. A world where everyone shares in the global prosperity.

##4. QFS: The Dawn of Financial Transparency

Now, let’s turn our attention to the Quantum Financial System, QFS. This cutting-edge technological marvel offers an incorruptible, transparent, and secure financial network. It uses quantum computing technology to make financial transactions faster, safer, and more efficient. This isn’t just an upgrade to our existing financial infrastructure; it’s a complete reinvention.

##5. GCR/RV: A Reset Towards Equality

Then we have the Global Currency Reset/Revaluation (GCR/RV). This significant reset of the world’s currency system is not just a number game but an effort to level the financial playing field.

##6. ISO 20022 and Basel III: Setting New Standards

Moreover, standards like ISO 20022, an international standard for electronic data interchange between financial institutions, and Basel III, a global voluntary regulatory framework addressing bank capital adequacy, stress testing, and market liquidity risk, are creating a safer, more transparent financial world.

##7. The Promise of Protocol QFS 20 and DINAR

And finally, we have the newest protocols like QFS 20 and the revaluation of the Iraqi Dinar (DINAR), which represent the drive for a more unified global financial system.

##8. From Dark to Light: A Journey of Love and Unity

At the heart of this profound shift from the old financial system to the new lies a fundamental principle – love. Love for each other, for our shared Earth, and for the limitless potential that lies within us. This shift isn’t merely about money or wealth; it’s about unity, prosperity, and love. 🤔

Source: AMG News

[yorik59lene]

Grösserer Loligo, gemalt in Venedig. (wbg / University of Amsterdam, Special Collections, MS. III C22)

Conrad Gessner wurde als eines von acht Kindern «uff den palmtag» im März 1516 in Zürich geboren. Er war ein Sohn des Kürschners Urs Gessner und dessen Frau Agathe, geborene Frick. Da seine Familie nicht genug Geld hatte, um ihn zu ernähren, kam Gessner im Alter von fünf Jahren zu seinem Grossonkel Johannes Frick, einem Kaplan des Zürcher Grossmünsters. Im Garten des Großonkels wurde seine lebenslange Liebe zur Botanik geweckt. Er besuchte zunächst die Deutsche Schule, die er aber nach drei Jahren für die Lateinschule des Grossmünsters Zürich verliess.

1526 kam Gessner zu seinem Lehrer Oswald Myconius, bei dem er drei Jahre lang lebte, bevor er 1529 in das Haus von Johann Jakob Ammann zog. Gleichzeitig wechselte er an die reformierte Hochschule Huldrych Zwinglis, wo er weiteren Sprachunterricht erhielt und auch die theologischen Veranstaltungen Zwinglis besuchte.

Im Jahr 1531 wurde das erste und einzige im 16. Jahrhundert in Altgriechisch gesprochene Theaterstück, an der Lateinschule durch seinen Lehrer Georg Binder inszeniert, in Zürich vorgetragen, und Gessner spielte als bei weitem jüngstes Mitglied der Gruppe gleich zwei Rollen, was seine ausserordentlichen Griechischkenntnisse zeigt. Noch im selben Jahr starben sowohl Gessners Vater wie auch Huldrych Zwingli im zweiten Kappelerkrieg, was Gessner hart traf.

Gessner zog 1532 nach Strassburg zum Hebraisten Wolfgang Capito, wo er Hebräisch lernte und den deutlich älteren Buchdrucker Wendelin Rihel in Altgriechisch unterrichtete. Daneben beherrschte er Deutsch, Französisch, Italienisch, Niederländisch, Lateinisch, Griechisch und Arabisch.[3] Es folgten mehrere Jahre des ständigen Wohnortwechsels (so Bourges und Paris) und Medizinstudiums. 1534 wurde Gessner Lehrer in Zürich und heiratete Barbara Singysen; eine Entscheidung, die von seinem Umfeld sehr missbilligt wurde. 1537 wurde Gessner Griechischprofessor in Lausanne. 1540 setzte er seine medizinische Ausbildung in Montpellier fort. 1541 erlangte er den Doktorgrad an der Universität Basel. Er kehrte nach Zürich zurück und wurde Professor der Naturwissenschaften (Physik) an der Hohen Schule und liess sich zudem als Arzt in Zürich nieder.

1554 wurde Gessner als Nachfolger von Jakob Ruf zum Zürcher Stadtarzt ernannt. 1558 folgte die Ernennung zum Kanonikus.

Im Jahr 1559 ging Gessner zu Kaiser Ferdinand I. nach Augsburg. 1564 erhielt er von diesem auch einen Wappenbrief. Wegen seiner eigenen Kinderlosigkeit ging dieser auf die Nachfahren seines Onkels Andreas Gessner über.

1565 starb Conrad Gessner an der Pest, nachdem er im selben Jahr auch den Reformator Heinrich Bullinger behandelt hatte.

Wikipedia

[exportfinancestrategiesforem]

Private Credit vs.Traditional Lending: How Institutional Capital Is Shaping the Future of Debt Markets

Private Credit vs.Traditional Lending: How Institutional Capital Is Shaping the Future of Debt Markets

The post-pandemic era, tightening monetary policy, and mounting demand for yield have accelerated a structural shift in the world of finance, from conventional bank lending to private credit. But what’s driving this change, and where are institutional investors placing their bets?

Understanding the Shift: Traditional Lending vs. Private Credit

Historically, banks and regulated financial institutions were the cornerstone of corporate and project finance. However, the 2008 financial crisis and subsequent regulatory reforms — such as Basel III — tightened capital requirements, limiting banks’ lending capacity.

Why Are Institutions Shifting Towards Private Credit?

Enhanced Yields and Control

In a low-yield public debt environment, private credit offers superior risk-adjusted returns. Pension funds, sovereign wealth entities, and insurance firms are allocating increasing capital to private debt as part of their core strategies.

Portfolio Diversification via Alternative Investments

Institutional investors are treating private credit as a key component of their alternative investment allocations, enabling better diversification in volatile capital markets.

Flexibility and Tailored Lending

Unlike syndicated loans, private credit transactions are bespoke, enabling lenders to align terms with borrower needs, improving satisfaction and minimising risk.

Rising Institutional Capital Flows

Large asset managers and private equity firms are setting up credit-focused divisions to meet institutional demand for fixed-income alternatives. The inflow of capital underlines growing confidence in this segment.

Private Credit in Today’s Capital Markets

The growth of private credit isn’t simply about banks pulling back. It’s part of a broader transformation across debt capital markets. Capital is increasingly shifting away from publicly traded instruments towards private lending and structured finance.

Sectors Leading Private Credit Growth

Real Assets Finance

Institutional investors are leveraging private credit to finance stable, income-generating assets like commercial real estate, logistics hubs, energy infrastructure, and natural resources.

Infrastructure and Project Finance

Large-scale infrastructure needs — such as transport networks, power plants, and renewables — often outstrip the capacities of traditional banks. Private credit offers long-term funding tailored to these asset types.

Digital Infrastructure Finance

As the digital economy expands, demand for capital to build data centres, fibre networks, and 5G infrastructure is soaring. Private credit funds are increasingly stepping into this gap, particularly those focused on long-duration, tech-enabled assets.

A Quick Snapshot: Private Credit vs. Traditional Lending

Aspect

Traditional Lending

Private Credit

Source of Capital

Banks

Institutional Investors

Regulatory Oversight

High

Lower (but increasing)

Loan Customisation

Limited

Highly Customised

Speed of Execution

Slower

Faster

Yield Potential

Moderate

Higher

Sector Focus

Broad

Targeted (Real Assets, Infra)

Portfolio Role

Core

Alternative Strategy

Challenges and Considerations in Private Credit

Despite its growing appeal, private credit presents a few hurdles:

Liquidity Risk: These instruments are illiquid and not easily traded.

Transparency: The lack of standardised disclosures may be a concern for compliance teams.

Economic Cyclicality: Credit risk tends to spike during downturns, especially in cyclical sectors like energy and real estate.

Still, with sound credit management and due diligence, many institutions consider these risks manageable.

read more….https://globalbankingmarkets.com/news/private-credit-vs.traditional-lending-how-institutional-capital-is-shaping-the-future-of-debt-markets

[brocoffeeengineer]

Private Credit Boom: How It's Redefining Investment Strategies – A CFA’s Insight

Private credit, which was once a niche space limited to ultra-high net worth investors and big institutions, has now gone mainstream. With the traditional banks stepping back in the wake of stricter regulations and higher interest rates, private credit is stepping in to fill a critical void—offering customized financing solutions to businesses that do not quite fit the shape of public debt or equity markets.

From a charterholder CFA's perspective, the boom in private credit isn't merely transient—it's a structural transformation of global capital markets. At early 2025, the market for global private credit was projected to exceed $1.6 trillion, and the momentum was not losing strength. This phenomenon presents new opportunity and danger, compelling analysts and investors to reimagine their portfolios and long-term strategies.

Knowing Private Credit

Private credit describes non-bank lending, normally to mid-market businesses, without intermediaries such as ordinary banks. The loans are usually not publicly traded and are retained until maturity by the lender. This type of lending encompasses direct lending, mezzanine debt, distressed debt, and special situations lending.

In contrast to public debt markets, private credit offers more customization, flexible covenant packages, and higher yields—highly desirable in a world where inflation is obstinate and interest rate volatility is extreme.

Why Private Credit Is Growing

A number of factors are driving the expansion of private credit:

Banking Regulations: Reforms like Basel III since 2008 have increased capital requirements for banks, which have made them risk-averse in lending to riskier or smaller companies.

Increased Interest Rates: Central banks across the globe have raised interest rates to manage inflation. Although this has cooled down the equity markets, private lenders have been able to charge higher returns.

Investor Desire for Yield: In an environment where government securities yield little or no real returns, institutional players such as endowments and pension funds are eager to latch onto the enhanced yields offered through private credit.

Structured Solutions: Private credit is flexible. It delivers structured transactions that banks cannot necessarily support because of inflexible policies and timelines.

This wave of activity is not confined to international markets. Even markets like Mumbai, India's financial hub, are experiencing a heightened demand for qualified experts who are familiar with intricate credit instruments. In such a scenario, institutions that provide the CFA course mumbai have experienced heightened interest from candidates looking forward to reaping this new financial landscape.

Impact on the Investment Environment

Not just growing, private credit is revolutionizing the allocation of capital to industries:

1. Substituting Traditional Bank Lending

Private credit has filled the void where banks have receded. In industries such as real estate, health care, and infrastructure, corporations are approaching private lenders for financing. This has made it possible for lenders to obtain funds at short notice and investors to capitalize on returns.

2. Reframing Risk and Return Profiles

From a CFA point of view, private credit is all about advanced risk understanding. Unlike bonds, private credit products might not be liquid, but they make up for it with wider spreads and strong covenant protections. Experts must analyze credit risk, probabilities of default, and deal structure more rigorously.

3. Propelling ESG Integration

Environmental, Social, and Governance (ESG) factors are increasingly finding their place in private credit origination. Funds are also setting impact objectives and incorporating sustainability analysis into deal-making. This comes alongside a more pervasive industry move towards responsible investment—also becoming increasingly emphasized within the CFA curriculum.

4. Technology's Role

With platforms now making origination, credit analysis, and performance monitoring more streamlined, technology is bringing private credit more into the light. AI-based risk models and blockchain-based loan documentation are lessening operational frictions, bringing private markets closer.

Recent Developments in 2025

Recent news has attested to the staying power of private credit. For instance, in February of 2025, global asset manager Blackstone closed a $12 billion private credit fund, its biggest to date in the sector. The fund focuses on corporate direct lending in North America and Asia, reflecting strong conviction that growth will continue.

In India, companies such as Edelweiss and Kotak Private Credit are broadening their products, while international players are opening satellite offices in tier-one cities. The ecosystem of Mumbai, with its fintech development and robust legal framework, is turning out to be a hub for these funds. Even the Reserve Bank of India (RBI) has been growing more welcoming towards non-bank financial intermediation, further enhancing the private credit environment.

Challenges Ahead

Albeit the boom, private credit faces its headwinds as well:

Liquidity Risk: These are illiquid assets with less certain exit channels.

Default Risk: In economic downturns, mid-sized firms might experience liquidity crises, raising default probabilities.

Valuation Transparency: While the pricing of publicly traded securities is transparent, that of private markets is opaque and needs thorough due diligence and valuation techniques.

These issues necessitate analysts to venture beyond conventional valuation techniques. The stress on ethics, risk management, and portfolio analysis via the CFA charter offers the necessary anchorage for professionals operating in these waters.

What It Means for CFA Professionals

Private credit's sophistication requires a multi-disciplinary strategy. Analysts need to combine accounting expertise, legal knowledge, and macroeconomic experience. Whether modeling cash flows on mezzanine debt or valuing collateral in distressed cases, the CFA program equips candidates to navigate these subtleties.

In addition, networking and peer experience—frequently acquired through CFA societies and local chapters—contribute to the learning curve. With global investors looking for local talent that can implement global standards, CFA charterholders are well-positioned to fill this knowledge gap.

Final Thoughts

Private credit is not just an up-and-coming asset class—it is a revolution in the way capital moves through the global economy. From sovereign funds to family offices, everybody is now looking at private credit as a central part of their strategy.

In financial hubs like Mumbai, where the financial services industry is quick to mature, this transition is creating new career opportunities. Participating in a CFA Training Program in mumbai can equip finance professionals with the technical skill set and ethical framework to traverse this change with confidence.

With the investment landscape continuing to shift, the values of disciplined analysis, integrity, and lifelong learning imparted in the CFA program will be as indispensable as ever when assessing and grasping opportunity in the private credit space.

[meritglobaltraining]

What Should Financial Professionals Know About Basel III and IV?

In the ever-evolving landscape of global finance, regulatory frameworks play a vital role in maintaining stability, ensuring transparency, and protecting the interests of stakeholders. One of the most significant developments in this area has been the introduction and progression of Basel III and IV frameworks. These regulatory reforms, initiated by the Basel Committee on Banking Supervision, aim to address weaknesses in the previous banking regulations and strengthen bank capital requirements. For financial professionals, understanding these frameworks is not just important—it's essential. Whether you're a risk manager, compliance officer, or involved in capital planning, a deep grasp of Basel III and IV can significantly enhance your ability to navigate today’s complex banking environment.

[thetranscript]

So, SLR alone isn't going to change that much for us. It may change for other people. We really need reform across SLR, G-SIFI, CCAR, Basel III and LCR, all of which has deep flaws in them, to make a material change. And remember, it's not relief to the banks. It's relief to the markets. JPMorgan will be fine with/without an SLR change. The reason to change some of these things is so banks -- the big market makers could intermediate more in the markets. If they don't -- if they do, spreads will come in, there'll be more active traders. If they don't, the Fed will have to intermediate, which I think is just a bad policy idea, but every time there's a kerfuffle in the markets, the Fed has to come in and intermediate. So, they should make these changes.

JPMorgan Chase & Co. (JPM) Q1 2025 Earnings Call Transcript

Without reform, market kerfuffles force Fed intervention #Fin

[rupinhemantbanker]

Navigating the Global Structured Finance Terrain: Current Trends and Insights

Introduction to Structured Finance

Structured finance refers to complex financial instruments offered to investors through the securitization of various assets. This field, encompassing a wide array of products, aims to manage risk and optimize financial returns. The global structured finance landscape has evolved significantly over the years, adapting to economic shifts and regulatory changes. In this article, we will explore the current state of structured finance, key trends, and prospects.

The Evolution of Structured Finance

Historically, structured finance emerged as a way to offer innovative solutions for managing risk and liquidity. Traditionally dominated by mortgage-backed securities (MBS) and collateralized debt obligations (CDOs), the sector has expanded to include asset-backed securities (ABS) and collateralized loan obligations (CLOs). The financial crisis of 2008 exposed vulnerabilities in these instruments, leading to increased scrutiny and regulatory reforms.

Current Trends in Structured Finance

Diversification of Asset Classes

Structured finance products now encompass a broader range of asset classes. While MBS and CDOs remain significant, there has been a notable increase in the securitization of non-traditional assets such as auto loans, credit card receivables, and even intellectual property. This diversification allows investors to access a more comprehensive array of investment opportunities while helping issuers raise capital from varied sources.

Technological Integration

The rise of financial technology (fintech) has dramatically impacted structured finance. Innovations such as blockchain and smart contracts are being explored to enhance transparency, reduce costs, and streamline transaction processes. These technologies have the potential to revolutionize how structured finance products are created, managed, and traded, leading to greater efficiency and security in the market.

Regulatory Developments

Post-crisis regulatory reforms have reshaped the structured finance landscape. Regulations like Basel III and the Dodd-Frank Act have introduced stricter capital requirements and risk management standards. These measures aim to increase transparency and reduce systemic risk. While these regulations have imposed additional compliance costs on financial institutions, they have also contributed to a more stable and resilient structured finance market.

Focus on ESG Criteria

Environmental, social, and governance (ESG) considerations are increasingly influencing structured finance. Investors are demanding more transparency regarding the ESG impact of their investments, leading to the development of green bonds and sustainability-linked securities. These products are designed to support projects with positive environmental and social outcomes, aligning financial performance with broader societal goals.

Regional Insights

North America

The United States remains a significant player in the global structured finance market. The resurgence of ABS and CLOs has been notable, driven by strong demand from institutional investors seeking yield in a low-interest-rate environment. Regulatory changes have also influenced the market dynamics, with the focus shifting towards more excellent risk management and transparency.

Europe

European structured finance markets have experienced a slower recovery compared to North America. However, recent trends indicate a revival, particularly in ABS and CLOs. The European Central Bank's policies and economic conditions have shaped the market, with ongoing regulatory reforms aimed at enhancing market stability and investor protection.

Asia-Pacific

The Asia-Pacific region has seen significant growth in structured finance, driven by rapid economic development and increasing investment demand. Countries like China and India are emerging as key players, with a rising interest in securitizing various asset classes. The region's diverse economic landscape presents both opportunities and challenges for structured finance participants.

Challenges and Opportunities

Market Complexity

One of the main challenges in structured finance is its inherent complexity. The intricate nature of these products can make it difficult for investors to understand the associated risks and returns fully. Enhanced transparency and education are crucial for mitigating these challenges and ensuring informed investment decisions.

Credit Risk and Economic Uncertainty

Credit risk remains a significant concern, particularly in a volatile economic environment. Fluctuating interest rates, geopolitical tensions, and economic downturns can impact the performance of structured finance products. Investors and issuers must remain vigilant and adopt robust risk management practices to navigate these uncertainties.

Innovation and Adaptation

The continuous evolution of financial markets presents both opportunities and challenges for structured finance. Innovations in financial technology, changing regulatory landscapes, and shifting investor preferences require participants to adapt and innovate. Embracing these changes can lead to new product developments and market opportunities.

Future Outlook

Several key factors are likely to shape the future of structured finance. Continued technological advancements, evolving regulatory frameworks, and growing ESG awareness will drive the sector forward. As the global economy recovers from recent disruptions, structured finance is expected to play a crucial role in providing liquidity and managing risk.

Structured finance remains a dynamic and integral part of the global financial system. As the market continues to evolve, staying informed about current trends and emerging developments is essential for investors and issuers alike. By understanding the complexities and opportunities within this landscape, participants can better navigate the challenges and capitalize on the potential of structured finance.

[thepastisalreadywritten]

SAINT OF THE DAY (July 13)

On July 13, the Catholic Church celebrates the memory of St. Henry II, a German king who led and defended Europe's Holy Roman Empire at the beginning of the first millennium.

He was also the last ruler of the Ottonian line (919-1024).

Henry was born on 6 May 973 to Duke Henry of Bavaria and Princess Gisela of Burgundy.

During his youth, Henry received both an education and spiritual guidance from a bishop who was himself canonized, St. Wolfgang of Regensberg.

Henry was an intelligent and devout student, and for a period of time, he was considered for the priesthood.

St. Wolfgang's lessons in piety and charity left a lasting mark on Henry's soul.

But it was ultimately in the political realm, not the Church, that he would seek to exercise these virtues.

He took on his father's position as Duke of Bavaria in 995, one year after St. Wolfgang's death.

The Church supported his accession to the throne as King of Germany in 1002.

As king, Henry encouraged the German bishops to reform the practices of the Church in accordance with canon law.

During the same period, he is said to have brought a peaceful end to a revolt in his territory, which ended with the king mercifully pardoning the rebels.

Henry also acted decisively, but not harshly, against an Italian nobleman who set himself up as a rival king.

In 1014, the German king journeyed to Rome where Pope Benedict VIII formally crowned him as head of the Holy Roman Empire.

The emperor demonstrated his loyalty to the Pope by confirming Benedict VIII's authority over the city of Rome.

Henry made his journey from Rome back to Germany into a pilgrimage of sorts, stopping at various monasteries along the way.

Henry became a great patron of churches and monasteries, donating so much of his wealth to them that his relatives complained that he was behaving irresponsibly.

But Henry was far from irresponsible, as his leadership of the Western Empire in both war and peace demonstrated.

The emperor was also a great patron of the poor, making enormous contributions for their relief.

He stressed service to the Church and promoted monastic reform.

The emperor's extraordinary generosity was made possible in part by his lack of an heir.

He was married to a woman who was later canonized in her own right by Pope Innocent III on 29 March 1200, St. Cunigunde of Luxembourg.

They had no children.

Some accounts say that the couple took vows of virginity and never consummated their marriage, though this explanation of their childlessness is not universally accepted.

For the last several years of his life, Henry had to deal with serious illness and an additional ailment that crippled his left leg, along with his imperial responsibilities.

He found support in prayer during these trials and seriously considered resigning his imperial leadership in order to become a monk.

After several years of illness, Henry II died on 13 July 1024.

The public mourned sincerely for the monarch who had managed to lead his earthly kingdom so responsibly without losing sight of the Kingdom of God.

For his remarkable personal piety and enthusiastic promotion of the Church, Pope Eugene III canonized him in July 1146.

He is the only medieval German monarch ever to have been honoured as a saint.

He is the patron saint of the city of Basel in Switzerland and of St Henry's Marist Brothers' College in Durban, South Africa.

[cruger2984]

THE DESCRIPTION OF SAINT HENRY II, THE HOLY ROMAN EMPEROR Feast Day: July 13

Henry II, also known as Henry the Exuberant, was born on May 6, 973 AD in Bavaria, Germany, Holy Roman Empire, and is the son of Henry II of Bavaria and Gisela of Burgundy. He was Henry I of Bavaria's grandson through his father, and is the great-grandson of Henry the Fowler. On his mother's side, he was the grandson of Conrad the Peaceful, and the great-grandson of King Rudolph II of Burgundy.

He was educated in the Christian faith by Wolfgang of Regensburg during his father's exile, and studied at Hildesheim Cathedral. The Emperor himself ensured the younger Henry received an ecclesiastical education in order that by becoming a religious official he would be prevented from participating in the Imperial government.

The death of Otto II in 983 allowed the elder Henry to be released from custody and to return from exile. The elder Henry claimed regency over Otto III, the three-year-old child of Otto II. After a failed attempt to claim the German throne for himself in 985, the elder Henry relinquished the regency to the child's mother Theophanu.

In return for his submission to the child king, Henry was restored as Duke of Bavaria. The younger Henry, now thirteen years old, was named his regent over Bavaria. When the elder Henry died in 995, the younger Henry was elected by the Bavarian nobles as the new duke to succeed his father.

Sincerely religious, Henry II supported service to the Church (he was celibate) and promoted various monastic reforms. He also strongly enforced clerical celibacy, perhaps partly in order that the public land and offices he granted to clerics would not be devised to heirs. He encouraged the reform of the Church, fostered missionary activity, and made several charitable foundations for the poor.

Wished to become a monk, and in virtue of his imperial power he ordered the Abbot of Verdun to accept him in his monastery. Thereupon, the Abbot ordered him, in virtue of the vows he had professed, to continue the administration of the empire. Henry II fulfilled his duties in the spirit of humility and service, being convinced that temporal power was given by God for the good of the people.

He succeeded in persuading Pope Benedict VIII to include the word 'Filioque' in the Nicene Creed. The addition of the term provided that the Holy Spirit emanated from both God the Father and God the Son.

Together with the concept of Papal primacy, dispute over this doctrine was one of the primary causes of the Great Schism of the Church in 1054.

Henry II inherited several unresolved ecclesiastical disputes from his predecessor Otto III. Issues of particular importance were the reestablishment of the Diocese of Merseburg and the settlement of the Gandersheim Conflict.

Returning to Magdeburg, Germany from southern Italy to celebrate Easter, he fell ill in Bamberg. After celebrating Easter, Henry retired to his imperial palace in Göttingen, and died there on July 13, 1024 at the age of 51, without an heir, and thus Henry II is the last of the Saxon kings.

Henry II is canonized as a saint by Pope Eugenius III in July 1147; while Cunigunde of Luxembourg, his spouse, was canonized on March 29, 1200 by Pope Innocent III. Henry's relics were carried on campaigns against heretics in the 1160s.

He is the patron saint of the city of Basel, Switzerland, and of St. Henry's Marist Brothers' College in Durban, South Africa. During his lifetime, Henry II became an oblate of the Benedictine Order, and today is venerated within the Order as the patron saint of all oblates, along with St. Frances of Rome.

[coinguitar]

Basel Committee Cracks Down: Banks Face New Crypto Rules

The recent Basel Committee meeting (July 2-3) focused on key policy decisions related to banks’ exposure to crypto assets. These decisions are part of the ongoing Basel III reforms, a series of regulations initiated in 2019 to strengthen the resilience of European Union banks through stricter supervision, risk management practices, and regulatory frameworks. A proposal for a comprehensive…

[beurich]

Übererfüllung von Basel III in Europa wäre herber Schlag für Kreditinstitute und Realwirtschaft

Übererfüllung von Basel III in Europa wäre herber Schlag für Kreditinstitute und Realwirtschaft

In der von der EBA empfohlenen Umsetzung steigt das von Kreditinstituten vorzuhaltende Mindestkapital europaweit im Durchschnitt um 18,5 Prozent an, Immobilienfinanzierer müssen einen Anstieg von 23 Prozent stemmen. Auf europäische Banken und Finanzinstitute kommt eine massive Belastung zu, falls die Reform von Basel III in der von der Europäischen Bankenaufsichtsbehörde (EBA) präferierten…

[innocentamit]

Brussels has warned not to delay strict rules on EU banks

Brussels has warned not to delay strict rules on EU banks

The EU has been warned not to delay the next phase of international banking regulations, as plans to show that Brussels is proposing a three-year extension to European banks are set by the international deadline. Carolyn Rogers, secretary-general of the Basel Committee for Banking Supervision, said the new rules are “the final and most important chapter” in reforming the Basel III rules. He…