Basel III: The US has started a race to the bottom

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The story "Basel III: The US has started a race to the bottom" was covered 13 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 13h ago

Basel III: The US has started a race to the bottom - Financial Times

Quick Summary:

Banks have played silly endgames on capital.

It is not necessarily egregious; custody business is less risky than lending or trading, and the US trust banks have no real equivalents anywhere else.

On nearly every results call since the crisis, Jamie Dimon of JPMorgan has taken the opportunity to remind investors of his company’s “fortress balance sheet”. Dimon himself is coming towards the end of his term as chief executive, and it would be sad and ironic if this part of his legacy was forgotten.