Capital neutrality key to completing Basel III, says Quarles
Former Republican Fed vice-chair thinks Hill or Bowman could help revive stalled prudential rules
Months before Donald Trump’s election as president, the US implementation of key prudential rules appeared to have stalled, as regulators quarrelled over how far to soften an original proposal from July 2023.
Now, the fate of this Basel III endgame – the US implementation of the Basel Committee on Banking Supervision’s post-crisis package – is likely to depend on Republican-dominated regulatory agencies. To understand what kind of redraft might pass muster, few are better placed than the former
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