Isda AGM: Banks to blame for regulatory fragmentation, says Basel Committee’s Coen
Bank lobbying has encouraged national supervisors to water down global standards, says deputy secretary-general of Basel Committee
Banks are paying the price for trying to influence the shape of new capital rules, with a resulting fragmentation in regulatory standards making life more difficult for globally active firms, according to William Coen, deputy secretary-general of the Basel Committee on Banking Supervision.
Several national regulators have deviated from the Basel III rules in recent months – in some cases, following a strong lobbying push from banks and end-users. For example, legislators in Europe agreed in
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