<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>1665-5346</journal-id>
<journal-title><![CDATA[Revista mexicana de economía y finanzas]]></journal-title>
<abbrev-journal-title><![CDATA[Rev. mex. econ. finanz]]></abbrev-journal-title>
<issn>1665-5346</issn>
<publisher>
<publisher-name><![CDATA[Instituto Mexicano de Ejecutivos de Finanzas A.C.]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S1665-53462024000200001</article-id>
<article-id pub-id-type="doi">10.21919/remef.v19i2.991</article-id>
<title-group>
<article-title xml:lang="en"><![CDATA[Basel IV and the structural relationship between SA and IMA]]></article-title>
<article-title xml:lang="es"><![CDATA[Basilea IV y la relación estructural entre SA e IMA]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Rossignolo]]></surname>
<given-names><![CDATA[Adrián F.]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,University of Leicester  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>United Kingdom</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2024</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2024</year>
</pub-date>
<volume>19</volume>
<numero>2</numero>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S1665-53462024000200001&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S1665-53462024000200001&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S1665-53462024000200001&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract The current paper aims at ascertaining the massive overhaul of the Trading Book or Basel IV, comparing the capital requirements of the Standardized and Internal Models Approaches in market crisis context. Throughout an integral sequential analysis encompassing every step of both regimes -including several specifications for the latter-, the study finds that the radical revamp achieves its main objective: raising capital for market risks. Simultaneously, the Standardized Approach appears favored, establishing a high floor as a credible fall-back and penalizing the Internal Models with complex structures and stringent validation tests. With the general purpose apparently attained, it would be wise to review the whole process and grant some flexibility to local supervisors in its application. The investigation was focused on Mexican stock markets during Covid-19, and it is understood that extending it to more countries could bolster the results. The present article ranks among the first to study the effects of Basel IV and highlights some of its flaws, particularly the probably excessive capital levels and the crackdown on Internal Models, which could dent profits, restrict innovation and shrink credit.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen El artículo evalúa la profunda revisión del Libro de Negociación o Basilea IV comparando los requerimientos de capital de los Enfoques Estandarizado y de Modelos Internos en un contexto de crisis de mercado. Mediante un análisis integral secuencial abarcando cada paso de los dos regímenes -incluyendo varias especificaciones para el segundo-, el estudio halla que la modificación radical consigue su objetivo principal: la elevación del capital para riesgos de mercado. Simultáneamente, el Enfoque Estandarizado aparece favorecido estableciendo un piso alto como respaldo creíble y los Modelos Internos son penalizados con estructuras complejas y tests de validación restrictivos. Con el propósito general aparentemente logrado, sería razonable efectuar una exploración del proceso general y conceder mayor flexibilización a los supervisores locales para su aplicación. La investigación se concentró en los mercados accionaros mexicanos durante el Covid-19, y se entiende que la extensión a más países podría reforzar los resultados. Este artículo se sitúa entre los primeros en estudiar los efectos de Basilea IV y resalta algunas de sus falencias, particularmente los niveles de capital probablemente excesivos y la campaña contra los Modelos Internos, lo cual podría mellar las ganancias, restringir la innovación y reducir el crédito.]]></p></abstract>
<kwd-group>
<kwd lng="en"><![CDATA[Basel IV]]></kwd>
<kwd lng="en"><![CDATA[Capital Requirements]]></kwd>
<kwd lng="en"><![CDATA[Standardized Approach]]></kwd>
<kwd lng="en"><![CDATA[Internal Models Approach]]></kwd>
<kwd lng="es"><![CDATA[Basilea IV]]></kwd>
<kwd lng="es"><![CDATA[Requerimientos de Capital]]></kwd>
<kwd lng="es"><![CDATA[Enfoque Estandarizado]]></kwd>
<kwd lng="es"><![CDATA[Enfoque de Modelos Internos]]></kwd>
</kwd-group>
</article-meta>
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