US Basel equivalence questioned as EU patience wears thin
MEPs say unfaithful US implementation of Basel III could trigger review of access to EU markets
Patience is a virtue, but there’s sometimes a limit to its practicality.
Progress in the US to implement internationally agreed capital reforms has come to a standstill, and comments from newly appointed officials don’t offer much in the way of reassurance.
It’s a source of frustration to members of the European Parliament (MEPs), who say the time is coming for the European Commission (EC) to reconsider its verdict that US rules are equivalent to those in the European Union – a reversal that would
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