The Group of 20 nations set goals for banks’ capital standards at their summit in Pittsburgh, setting up what will likely be a long battle between bankers and national authorities. Morgan Stanley analysts said EU banks will have a more difficult time meeting capital requirements than their U.S. counterparts. Meanwhile, industry groups warned of unintended consequences of the proposed changes. SIFMA said the proposals “could negatively impact investors, capital flows and economic growth.”
Reuters (9/28)