Economy

Big Banks And Regulators Poised To Miss Key Financial Reform Deadlines

CREDIT:

The world’s biggest banks have been given an extra six months to finish their so-called “living wills” by global regulators due to “uneven headway,” Reuters reported. The wills are to be used in the event a bank needs to be dismantled, giving regulators key information that they lacked during the 2008 financial crisis. U.S. and European regulators are also “set to miss a January deadline to implement new bank capital rules – known as Basel III, the G20’s main response to the financial crisis.”