US takes scissors to repos. In Europe, it’s not cut and dried
Stateside banks fear disadvantage over haircut rules that EU sees as not ready to implement
A visit to the hairdresser’s can require fine judgement. Allow the stylist to take off too much, and you may end up with a more severe haircut than you’d been hoping for. Allow them to take off too little, and the visit barely seems worthwhile.
Financial regulators are facing a similar quandary over a different type of haircut – and jurisdictions are responding with either enthusiasm or reluctance.
The Basel III capital requirements agreed in the wake of the 2008 financial crisis proposed
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