Trump May Save Banks Billions by Disrupting Global Rules
By Silla Brush
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 process to put Basel Committee standards into national rules can easily take years to accomplish, however, and this is where Trump and Republicans in the U.S. Congress will have the most sway. Trump will eventually get a chance to install new faces in the Fed, FDIC and the Office of the Comptroller of the Currency, the other U.S. Basel member.  Trump will “influence the process not only through what Treasury says, but also who comes to be head of the OCC and FDIC and vice chair of supervision at the Fed,” said Karen Shaw Petrou, managing partner at Federal Financial Analytics in Washington.