EU should delay implementing some bank rules if US drags feet, Villeroy says
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ECB policymaker Francois Villeroy de Galhau suggests that the European Union should delay implementing certain bank capital rules if the US does not fully implement the Basel III rules. Villeroy states that US banks not applying the Basel III rules puts European banks at a competitive disadvantage. He suggests that if the delays and differences in content are too great, Europe could postpone the entry into force or adjust certain provisions, particularly those concerning market risks. Villeroy's comments come after French President Emmanuel Macron called for a revision of how the EU applies the rules, stating that the EU should not be the only economic zone in the world that applies them.

#Eu #BankRules #BaselIii #UsBanks #CompetitiveDisadvantage

https://www.investing.com/news/economy-news/eu-should-delay-implementing-some-bank-rules-if-us-drags-feet-villeroy-says-3460274