Wall Street groups are warning US regulators that their plans to implement “Basel Endgame” global bank capital requirements will threaten liquidity in Treasury markets, urging them to rework proposals to manage market risk.
The claim of potential instability in the $29tn Treasury market is the latest burst of lobbying by US banks over Washington’s plans to adopt rules drawn by global regulators on how lenders assess risk in response to the 2008 financial crisis.
The US Federal Reserve and other regulators have already dramatically watered down their plans under pressure from lenders, meaning that instead of causing a big increase in overall capital requirements for American banks, they are now expected to lower them.
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