U.S. Regulators Hang Tough at Basel as Trump Rollback Looms
by Patrick Henry
U.S. bank regulators are taking a hard line in a showdown with the European Union over global capital rules, even as President Donald Trump begins to pull the country out of international agreements and prepares to roll back financial regulations….While U.S. bank regulators are independent agencies, they “traditionally do suspend controversial actions until the new administration is organized and they can decide which fights, if any, to pick,” said Karen Shaw Petrou, managing partner at Federal Financial Analytics in Washington. “That said, advocacy within Basel for the U.S. position” on the overhaul of Basel III “is not limited in any way, and I would expect the U.S. agencies to continue to push hard for consensus that would then strengthen their hand back home,” she said.