Global Banks Urge Regulators to Abandon Go It Alone Approach

The world’s most powerful banks have urged policymakers to rethink their “go at it alone” approach to a wave of reforms that’s swept out of Washington across the Atlantic.

Promising everything from lower capital requirements to less onerous oversight and reduced red tape, actual and anticipated reforms in the US, UK and EU have been a key driver of a rally in global bank shares in the past year.