Global Bank Regulators Delay New Capital Rules
By Donna Borak
WASHINGTON—International regulators have pushed back their year-end deadline to finalize controversial new bank capital rules, amid intense resistance from European policy makers. The little-noticed shift in the timetable came in a late-August statement issued by Mark Carney, who chairs the Financial Stability Board, a committee created in the wake of the financial crisis to bolster the global financial safety net. Mr. Carney said that long-awaited rules affecting the balance sheets of the world’s largest banks would be completed “by early 2017.” That was in contrast to statements from other officials throughout the year pledging action by the end of 2016… Karen Shaw Petrou, a managing partner of the policy analysis firm Federal Financial Analytics Inc. said the Carney and G-20 statements appeared to be setting somewhat different targets to allow the parties to try to reconcile their differences.