"the maturity floor"是什么意思

suicideli

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收藏 2011-11-09

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国际商会报告里面的下面是原文
The maturity floor
In addition to the problem posed by the new leverage ratio, ICC members asserted that there should be reconsideration of the Basel rules in respect of the maturity floor applied to trade assets under the advanced model. Whilst trade financing is usually short-term in nature, based on between 0 to 180 days maturity, the Basel II framework applies a one-year maturity floor for all lending facilities. Since capital requirements (naturally) increase with maturity length, the capital costs of trade financing are artificially inflated as a result.
All regulators have the (national) discretion to waive this floor (so far only three regulatory agencies in the world have been inclined to waive – Germany, the UK and Hong Kong). The ICC Register clearly confirmed that the average L/C has a maturity close to 90 days (a standard of payment in short-term international trade). Consequently, obliging financial institutions to back a self-liquidating asset for a full year is a considerable waste of capital resources at a time when these are scarce.