Writing in the Financial Times, Daniel Davies, managing director at Frontline Analysts and the author of The Unaccountability Machine, asks if Basel III rules and the Basel III Endgame will be able to continue in the midst of tariffs, trade wars and selective deregulation.
This could result in a highly negative outcome. According to Davies, “The central bankers, unlike almost all other bureaucrats, had such good relationships that they felt able to keep acting as a unified source of governance. If that era of frictionless international finance has come to an end, then banking regulation might need to go back to local focus. Paradoxically, that will probably mean more regulatory burden, not less, as everyone will have to satisfy local standards everywhere they operate.”
The full article is available here.