Basel 2.5: regulators still wrestling with Dodd-Frank clash
The Dodd-Frank Act means elements of Basel’s new trading book rules cannot be implemented in the US – although supervisors claim it will only be a temporary reprieve. A review of the rules has also been delayed. Mark Pengelly reports
After taking Basel III from consultative document to final text in the space of a year, it was almost inevitable that regulators would hit some speed bumps thereafter – and there are two currently holding up progress towards a new regime for bank trading books.
In the US, a clause in the Dodd-Frank Act that prohibits the use of credit ratings in regulation is making it difficult to implement
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