Trump May Save Banks Billions by Disrupting Global Rules
- President-elect has vowed to dismantle financial regulations
- Basel Committee is racing to complete post-crisis framework
FBR's Miller: Regulation to Get Better for Banks
This article is for subscribers only.
The election of Donald Trump may allow banks to dodge the full impact of global regulators’ post-2008 crisis crackdown.
The Basel Committee on Banking Supervision is racing to complete a revamp of international capital standards by year-end. The U.S. has pushed for strict rules to protect against future market meltdowns, whereas Europe and Japan want to rein in proposals that could hit banks with billions in costs. Basel Committee members including the U.S. Federal Reserve and the European Central Bank are under enormous industry pressure to soften the rules.