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SIFMA chief calls for further delay to Basel 'endgame' consultation.
- Source :
- Global Investor; 11/13/2023, pN.PAG-N.PAG, 1p
- Publication Year :
- 2023
-
Abstract
- The chief executive of the Securities Industry and Financial Markets Association (SIFMA) has called for an extension to the comment period on the Basel capital requirements for large banks holding derivatives. The US Federal Reserve Board and two other agencies have already pushed back the comment period to January 16, 2024, and launched a data gathering exercise that also ends on that date. SIFMA's president and CEO, Kenneth Bentsen, has expressed concerns that the current plan does not allow for the data gathering exercise to inform feedback by firms, and believes that a delay to the comment deadline would allow for more thoughtful comments. The Basel III rules, known as the "endgame," have received strong reactions from trade associations, particularly regarding their impact on derivatives clearing and trading by banks. [Extracted from the article]
Details
- Language :
- English
- ISSN :
- 09513604
- Database :
- Complementary Index
- Journal :
- Global Investor
- Publication Type :
- Periodical
- Accession number :
- 173562471