US has got what it wanted from Basel, say former regulators
Process has been "essentially driven" by US interest, says former Fed vice-chair
Former regulators are urging the US to continue active participation at the Basel Committee on Banking Supervision, arguing that membership has consistently served US interests. The stance comes as prominent voices in president Donald Trump’s second administration question the process of Basel rulemaking.
“Since its inception, Basel has been essentially driven by the US interest,” says Randal Quarles, who was appointed vice-chair of supervision at the Federal Reserve during Trump’s first
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