As 2016 draws to a close, a debate is raging as to whether
international and transatlantic financial regulatory coherence
can survive the coming year. Once widely assumed to be the
end-goal of post-crisis regulators and policymakers alike, such
coherence now faces its potential demise.
Ongoing economic problems in bank-reliant Europe had already
led the region’s regulators to look less than
kindly on Basel IV. In fact, some argue that
the European attitude towards Basel III was always far cooler
than it ought to have been. And two political surprises in
2016 – the UK’s June 23 vote to exit the
the victory of GOP presidential candidate Donald Trump
have only increased the likelihood of regulatory
de-internationalisation next year and beyond.
"We’ve reached a high watermark of cooperation,
the latest iteration of Basel III? We’ll have to
see what that comes to," said James Chew, global head...