As banks in different jurisdictions become more pressed by Basel III rules, and as the Basel Committee seeks to finalize their work including adding on what we now call Basel IV, national regulators are pushing back. The teams are lining up as the US on one side and Europe and Japan on the other. Could this change key agreements in Basel III and lead to a large-scale breakdown of global regulatory harmonization? Or maybe it is better to ask whether this has happened already?
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