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LBMA faces challenges as it looks to establish gold as a High Quality Liquid Asset
(Kitco News) - Gold has established itself as a store of value for thousands of years; however, the London Bullion Market Association says it faces further work to establish it as an important financial asset within the larger global marketplace.
After helping bullion banks avoid a funding crisis because of Basel III regulation, the LBMA said they are now focused on getting physical gold recognized as a High-Quality Liquid Asset (HQLA).
According to the Basel Framework, laid out by the Bank of International Settlements (BIS), financial institutions must hold HQLA to cover their total net cash outflows over a 30-day period under the stress scenario.
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LBMA faces challenges as it looks to establish gold as a High Quality Liquid Asset
Kitco News' general-interest stories takes a look at what is making headlines in the marketplace and how that is impacting precious metals priceswww.kitco.com