If the U.S. were to "walk away" from Basel III, and go with the straight 15% capital-to-assets favored by Senators Brown and Vitter for our largest banks, it would stifle our largest financial companies' ability to compete internationally.
"If the U.S. were to require higher capital requirements for its banks, I guarantee that China and other countries will not do the same," says Rodriguez Valladares. "They will certainly have more capital to play with."
A Potential Negotiating Position for Community Banks
Frank Mayer -- a partner in the Financial Services Practice Group of Pepper Hamilton in the Philadelphia -- says that "the genesis of this is really the regional and community banks with total assets of below $50 billion, feeling that they should not be covered by Basel III."
"The theme is that the main street banks didn't cause the crisis that precipitated Dodd-Frank, that the global regime is more suited to SIFIs and GSIFIs
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