We’re expecting that one outcome of the COVID-19 epidemic will be looser bank balance sheet regulations that may ultimately derail the Basel III framework. Basel III was already strained before 2020 by national regulators giving preferences and exceptions for domestic business models. The latest changes don’t signify a race to the bottom exactly, but they do cause damage to the notion of a level playing field.
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The steepening slope of financial deregulation (Premium)
