Basel III moves to to of agenda of US regulatory agencies
For almost two years, US regulators have labored to implement provisions of the Dodd-Frank Wall Street Reform Act that impact US financial institutions, but today, they turn their attention to the Act’s requirements to comply with international reguklations.
The Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve are set to hold public meetings today on Basel III proposals.
“Despite concerns by some US officials, the Fed is set to include the provision in its batch of proposals to implement the new Basel accords. But regulators will ask the industry for additional feedback,” reports the Financial Times.
While US regulators are preparing to introduce tougher capital rules, China announced that they would delay implementation.