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Archegos Blowup Prompts Regulatory Questions at Basel Committee

April 16, 2021, 4:00 AM

Global banking regulators will discuss the collapse of Archegos Capital Management LP, whose failure threatens to cost its lenders some $10 billion and is prompting calls for more oversight of the industry.

Carolyn Rogers, secretary general of the Basel Committee on Banking Supervision, said the blowup of Bill Hwang’s family office last month has already highlighted holes in banks’ understanding of complex trades.

“Disclosure was an issue,” Rogers said in an interview this week. The banks involved, which included Nomura Holdings Inc. and Credit Suisse Group AG, couldn’t “get a full picture of the complete exposure ...