Bank of England faces calls to delay new global banking capital rules - reports

Until mid-2025 to align with the US

The Bank of England is facing calls to postpone the UK’s implementation of the new global banking capital rules by six months to prevent a period of regulatory divergence that would hinder British banks’ ability to compete with Wall Street.

At the end of July, US regulators proposed plans to increase the capital requirements for the largest and most complex US banks by 16% under new ‘Basel III Endgame' rules, to be adopted in June 2025.  Meanwhile, the BoE's Prudential Regulation Authority will implement its own set of new capital requirements - also dubbed the 'endgame' of the post-GFC Basel reforms - from January 2025, to align with the EU's own launch.  Regulators propose raising capital requirements for largest US banks by 16% According to a report by the FT, UK-based finance executives raised concerns about the c...