Have you ever heard about Basel? Basel is a global regulatory framework for more resilient banks and banking systems.
Understanding the banking industry and its players:
People bemoan the “good old days” when a bank manager could lend you their limit on a handshake. Now it seems that companies have to give an incredible amount of data including financial statements up to 5 years back that may be of lesser (author) quality than the banks are comfortable with. The Basil Accord came into being, with the meltdown of some major Japanese banks in the 80’s, which shook the financial world and showed how vulnerable banks were to too much leverage and under reporting risk. Over the years the program developed Basil 1 (credit risk), Basil 2 (operational risk) and Basil 3 (investment book risk). The financial crisis of 2008 deepened regulations further. So it is safe to say that financial institutions are doing a much deeper dive and obtaining a much better understanding of a clients business. While bankers don’t see themselves as enemies, it still is important to understand why the financial institutions ask for and require today the level of information most businesses find overwhelming.
That is were Labrecque Business Consulting comes into play. Put over 40 years of financial institution experience to work for your company. We know how the financial institutions work, what they want and why, and best of all we do all the legwork for you. That allows you to run your business and us to get the financial institutions to a YES answer more quickly.
Helping you find the right financing solutions for your business.
We have a passion for business, and a desire to help!
Contact us today as shown below:
Business Finance Consultant
Labrecque Business Consulting
P.O. Box 20067
Qualicum Beach, B.C.