EU to delay bank rules as it waits for Trump’s deregulation moves, sources say

The European Union is set to delay new, global rules governing banks’ trading again as it waits for more clarity about the U.S. administration’s plans to deregulate its financial sector, sources told Reuters.

Why it matters

The Fundamental Review of the Trading Book (FRTB) is a key part the Basel III package devised in the wake of the global financial crisis but not yet implemented by Britain or the United States. The postponement reflects pressure from European banks fearing they will find themselves at a disadvantage to their U.S. and UK rivals, five senior officials at European and national institutions said.