Basel IV and its practical implications for smaller funds
Been trying to get my head around Basel IV, specifically the new output floor. For larger institutions, the impact on RWA is clear, but for smaller, independent funds like ours, which aren't necessarily directly subject to Basel IV, what's the indirect fallout? Is it mostly about competitive disadvantage in lending markets, or are there other regulatory 'trickle-down' effects that I should be paying closer attention to? Any insights on how this might reshape risk models even for those not directly regulated would be helpful.