Risk Europe: Dodd-Frank rating requirement has competitive implications under Basel III
A decision by US legislators to remove all references to credit ratings from the regulatory framework could put the country's banks at a competitive disadvantage under Basel III, according to Stefan Walter, secretary general of the Basel Committee on Banking Supervision.
Speaking at the Risk Europe pre-conference summit in Brussels today, Walter said the requirement under the Dodd-Frank Act, which was signed into law last July, could mean US banks end up holding higher capital under Basel III
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