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US Basel III delay to 2026 seen as almost inevitable

Reprioritisation and leadership changes cast doubts on timing of new proposals

Abstract image of a man sliding a date from 2025 to 2026 with a US flag overlaid
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Former regulators doubt the three US prudential agencies will be able to release fresh proposals implementing internationally agreed bank capital reforms this year.

“It’s going to take them a good amount of time to even do the negotiating with the other agencies about what the package itself looks like,” says Graham Steele, former assistant secretary for financial institutions at the US Treasury, and now an academic fellow at Stanford Law School.

On June 4, Michelle Bowman was sworn in as the US

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