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Stock impact report

Basel Chair urges banks to fully implement capital rules as soon as possible [Reuters]

First Citizens BancShares, Inc. - Class A (FCNCA) 
Company Research Source: Reuters
international capital rules "as soon as possible" across jurisdictions to ensure financial stability. The Basel Committee of banking regulators from around the world is facing pushback from banks in the United States in particular on the final leg of 'Basel III' post-financial crisis bank capital reforms to prevent bailouts of struggling lenders by taxpayers. Report this ad "Strong common minimum standards of regulation and supervision are crucial to ensure financial stability in each and every country," De Cos, who is also heads the Bank of Spain, said as part of the central bank's supervisory report. Last year saw the forced takeover of Credit Suisse, the first globally systemic bank to fail since the global financial crisis of 2007-2009, and the demise of several U.S. banks, such as Silicon Valley Bank. U.S. banks argue that the "end game" Basel rules will dent lending to the economy, while lenders in the European Union have also obtained temporary waivers from some of th Show less Read more
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