What is the 'Basel III endgame' and why are US banks worked up about it? | Hellenic Shipping News Worldwide hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
WASHINGTON (Reuters) -The U.S. Federal Reserve said last month it will make significant changes to a sweeping proposal for stricter bank capital requirements known as the "Basel III endgame" in a win for Wall Street banks that have waged an unprecedented campaign to water down the rule. Banks say additional capital is unnecessary and will hurt the economy, and have aggressively lobbied against the project. WHAT IS THE 'BASEL III' ENDGAME?
A leading U.S. bank regulator said Tuesday that the government will be open-minded about making changes to a contentious plan to raise large bank capital requirements..
Capital One s chances of
getting its $35.3 billion deal for Discover Financial
past regulators hinge on the bank showing it can disrupt the
close-knit U.S. credit card industry, five experts in.