FDIC’s Hoenig rounds on Europeans over Basel stand-off

Risk USA: Senior US regulator criticises focus on capital neutrality

thomas-hoenig-2012
Thomas Hoenig: opposes weakening Basel III to keep EU on board

Thomas Hoenig, vice-chair of the Federal Deposit Insurance Corporation (FDIC), has criticised European regulators for seeking to dilute the final round of Basel bank capital reforms. A commitment to avoid significantly increasing capital requirements will not help to strengthen the industry, he argued.

"The Basel Committee's current mandate to achieve capital neutrality requires adjustments unrelated to safety and soundness – and to what end? It is not designed to capture risk in the assets

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