European Central Bank's Centeno Warns Against Abandoning Basel Rules

In a significant commentary on the future of financial regulation, European Central Bank (ECB) governing council member, Mario Centeno, expressed concerns that proposed plans to move away from the Basel III rules could have detrimental effects. Speaking recently, Centeno highlighted that such a shift might undermine financial stability in Europe, particularly as the region continues to navigate the economic challenges posed by the ongoing global uncertainty.

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Major Delays Anticipated in Basel Regulations Finalization, Says Citi Chair

In a recent discussion attended by financial executives and policymakers, Jane Fraser, the Chair of Citigroup, painted a cautious picture regarding the finalization of the Basel III capital reforms. Fraser indicated that the completion of these significant regulatory changes is unlikely to be achieved before the new president of the Basel Committee on Banking Supervision takes office.

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