The latest US Basel III endgame proposal released on March 19 was widely seen as a victory for banks. For the International Swaps and Derivatives Association, it was a vindication of its own brand of low-key, highbrow advocacy.
An earlier proposal in July 2023 would have raised capital requirements for big banks by as much as 20%. The industry waged an extraordinary lobbying campaign against the rules, with some advocacy groups running TV ads during Sunday Night Football games and the State of
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