Reserve's proposed rules
implementing Basel III represent the biggest post-crisis
step towards a harmonised global capital framework. US lawyers
have welcomed the move.
US implementation of Basel III was expected as early as a
year ago. Last month New York partners told IFLR they were
concerned the latest Basel accord would follow a similar path
to Basel II, which was never fully implemented in the country.
Last weeks release was welcomed by US lawyers for
reasons beyond principle, however.
The three proposed rules come almost 18 months after the Basel
III framework was finalised and almost a year after the
European Commission (EC) released...