The Basel Committee on Banking Supervision is racing to complete a revamp of international capital standards before President-elect Trump, who has vowed to dismantle financial regulations, takes power.
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Trump may save banks billions by disrupting global rules
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Trump’s ascendancy and his vow to dismantle financial regulations could throw another wrench in the works. If he stalls U.S. implementation of the revised Basel Committee standards on how banks measure asset risk, or ignores them altogether, Europe could follow suit. And if the U.S. and Europe go their own ways, the last piece of the global response to the financial crisis could be undermined.
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