Fed’s Basel III rules: Global harmonisation wins approval

Author: Danielle Myles | Published: 12 Jun 2012

The Federal 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 week’s 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...