QABA - U.S. Banks Set To Capitalize On Rare Globalist Pact
2025-03-14 13:58:00 ET
Summary
- Michelle Bowman, Donald Trump’s pick to be the central bank’s vice chair of supervision, has indicated that she believes in aligning federal rules with Europe and the rest of the world.
- Bowman should be a welcome choice to the eight systemically important U.S. banks, which include Bank of America and Goldman Sachs.
- U.S. regulators have been imposing tougher requirements in part because its banks, at least theoretically, have less of an implicit government backstop than their international peers.
The new top cop at the U.S. Federal Reserve hardly fits the presidential mold. Michelle Bowman, Donald Trump’s pick to be the central bank’s vice chair of supervision, has indicated that she believes in aligning federal rules with Europe and the rest of the world. If so, it would mean largely conforming to Basel 3, the sort of international accord the White House is trashing most everywhere else....
U.S. Banks Set To Capitalize On Rare Globalist Pact