The Basel Committee on Banking Supervision (BCBS) has recently agreed on a new set of rules with more restrictive requirements for the banking sector. These provisions will force European banks to converge to standardised risk-weighting of their assets by 2027 and should create better harmonisation of international capital requirements.
READ MOREAs the EU tries to create a single financial market, engaging in a global financial governance which is no longer preoccupied with the development of new standards and institutions but rather concentrates on the implementation of existing rules, can the EU still play a major role in this particular scene?
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