ECB ‘optimistic’ for global deal on bank rules

Frankfurt Am Main:

Regulators at the European Central Bank said Monday they are “optimistic” that talks on harmonising rules for banks around the world will soon end in a deal. The so-called “Basel III” round of banking talks has stalled in recent months as negotiators battle over questions like how big banks’ capital reserves should be and how they should judge risk. Observers feared that Donald Trump’s incoming administration — seen as favouring looser regulation of banks and distrustful of multilateral cooperation — would hold up the talks. But “I’m optimistic and positive” that a deal will soon be reached, top ECB regulator Sabine Lautenschlaeger said at a Frankfurt press conference. “I have not yet got any news from the US American colleagues, but I do see that all of us are very aware” of the need for standardised rules, she insisted.