US falls behind in race to match Europe’s FRTB launch date
Recent US bank failures could jeopardise planned January 2025 start date for Basel III
With the first quarter of the year finished and not so much as a draft proposal in sight, doubts are mounting about whether the US will be able to meet a planned January 2025 deadline to implement the final round of Basel III bank capital rules.
The European Union has already committed to that start date, prompting fears of an unlevel playing field if the US delays. A rushed implementation will leave precious little time for US banks to secure internal model approvals for the new market risk
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