JPMorgan’s and BNP Paribas’ heads of EMEA regulation urged standard-setters at the Basel Committee on Banking Supervision to re-open discussions on the final Basel III framework, after the risk of global divergence in applying capital rules surged at the end of October.
After the European Commission laid out some key deviations and delays in its implementation of Basel III capital requirements last month, some global investment banks are stepping up warnings other jurisdictions could follow suit and introduce further divergence and time lags, in turn heightening implementation risks and hurdles.
“If different jurisdictions are taking different approaches, in part based on the perception that the final Basel standards were over-calibrated, what we are seeing is potential fragmentation,” Dale Butler, executive director for JPMorgan’s EMEA regulatory affairs, said at an ISDA event on trading book capital last week.
The full article is available at https://www.bobsguide.com/articles/jpmorgan-bnp-step-up-calls-to-re-open-basel-iii-framework/