Last week,the New York Times ran a series of short op-eds in the “Room for Debate”section entitled, “Are Global Banking Rules ‘Anti-American’?” - a reference to the now famous reported run-in between JPMorgan’s Jamie Dimon and Mark Carney, Governor of the Bank of Canada,about Basel III - the pending package of rules that [...]
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Yesterday,the Basel Committee on Banking Supervision (BCBS) finalized plans to move forward with an additional capital surcharge on what they call,global systemically important banks (G-SIBs),and what others have been calling systemically important financial institutions (SIFIs). Regardless of what you call these large banks,the vote yesterday to move forward with this additional [...] On Monday, Jamie Dimon caused a bit of a kerfuffle during an interview with the Financial Times when he suggested that the stronger Basel regulations were “blatantly anti-American.” What was most puzzling to me when I heard the news was that, in the past, Dimon has been either supportive of increased regulatory requirements or, at the very [...] | |||||
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