Regulators rebuff fragmentation complaints

EC’s Guersent points to Fed hints that it would ease TLAC plans for foreign banks

Olivier Guersent
Olivier Guersent, EC: “we are in a far better place than we were 10 years ago”
Photo: ECB/Flickr

Leading regulators have sought to dispel industry concerns that global prudential regulation is in danger of fragmenting along national lines, making it harder to manage cross-border balance sheets.

“I am surprised when I hear about fragmentation… I’ve been involved for 20 years, so I know where we came from, and I think the level of supervisory co-operation is far better than it used to be,” said William Coen, secretary-general of the Basel Committee on Banking Supervision.

Coen, who was

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