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Politics : Idea Of The Day

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To: Robert Graham who wrote (15326)	12/7/1997 12:17:00 AM
From: IQBAL LATIF	Read Replies (1) of 50167

Bob- I am sorry I missed one of your posts on "Basle Adequacy ratios" these are ratios established by OECD couintries agreed in Basle in Switzerland - according to this agreement banks within OECD countries need to meet minimum capital adequacy requirement- a ratio btw the total assets and capital- when I was referring to this ratio in connection with Japan the fear was that if Nekkei breaks thru 15000 and then 14000 some of the big Japanese banks will not be able to meet these very sensitive requirements leading to a downgrade of Japanese debt as a wholw it was this fear which had been one of the prime movers of the markets during those eventful days when BK use to be awake during long hours of night to watch action in Nekkei and HK- it was also lack of full comprehension and exaggerated concerns about collapse of Japanese banking system which led the clarion calls of -deflation' and an impending 'ice age' vocally presented on some of SI threads- had these authors fully realised that Japanese wopuld not sell there 6% TB's and have full government backing for any crisis to snow ball we may not have seen this rally which brought DOW pass 8000 and S&P on new highs within 15 trading sessions.

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