Bank of America CEO Brian Moynihan said U.S. authorities need to be careful when implementing new capital requirements of the Basel III accord to avoid reducing the ability of U.S. banks to compete globally.
In an interview with Fox Business, Moynihan said the process needs to assure "the playing field is level," saying the rules should be implemented carefully "so to not make the U.S. less competitive."
"We're not talking about the big eight banks. ... We're talking about a $30 or $40 billion bank, or a $100 billion bank, not being able to compete for a middle market loan because a bank or a supplier in Europe ... is getting a lower cost of capital", Moynihan added. U.S. banking regulators are expected to unveil on Thursday a sweeping proposal for stricter bank capital requirements. While the precise details aren't yet known, regulators have said the rules will apply to banks with $
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
NatWest Bank CEO ousted after furor over politician Nigel Farage's bank accountNatWest, one of Britain's biggest banks, says its chief executive has left her job after discussing personal details of a client — the populist politician Nigel Farage — with a journalist.
Consulte Mais informação »
NatWest Bank CEO ousted after furor over politician Nigel Farage’s bank accountThe chief executive of NatWest, one of Britain's biggest banks, left her job on Wednesday after discussing personal details of a client -- the populist politician Nigel Farage -- with a journalist.
Consulte Mais informação »
Chipotle CEO says the ‘Autocado' robot prototype makes workers' jobs easierChipotle CEO Brian Niccol discussed the Mexican fast food chain’s earnings and ‘Autocado’ robot prototype.
Consulte Mais informação »
Deutsche Bank flags cost cuts as investment bank slump lowers profit By Reuters⚠️BREAKING: *DEUTSCHE BANK SHARES SLIP IN FRANKFURT AS INVESTMENT BANK SLUMP LOWERS PROFIT $DB $DBK 🇩🇪🇩🇪
Consulte Mais informação »
Big investors sold tech stocks ahead of key earnings reports, Bank of America saysBank of America clients sold a record amount of single stock positions last week.
Consulte Mais informação »