US blows the floors off Basel III
Barr criticises “downward deviations” in US rule; Bowman rejects “blind adherence” to global standards
US banking regulators have abandoned the output floors they fought hard to include in the internationally agreed Basel III capital standards.
The final package of post-crisis capital reforms endorsed by the Basel Committee on Banking Supervision in 2017 limit the extent to which internal models used by banks to calculate capital requirements can undershoot the outputs of regulator-set standardised
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