GOLDILOCKS
EU Basel 3 Announcement:
The Fundamental Review of the Trading Book (FRTB) is a comprehensive suite of capital rules. They are developed by the Basel Committee on Banking Supervision (BCBS) as part of Basel III. Their intentions are to apply these rules to banks' wholesale trading activities.
The EU plans to delay FRTB because moving first would put EU banks at a competitive disadvantage to US banks.
This is a coordinated effort globally. Where one goes, we all go. Europe has given themselves a back wall date of January 1st, 2025 to to fully implement Basel 3 requirements. It looks like they have moved into a place that other countries are going to have to catch up to going forward.
Look for gold to be reclassified during this time and the digital economy to go ahead and move into its mass adoption.
© Goldilocks
https://www.icmagroup.org/market-practice-and-regulatory-policy/secondary-markets/secondary-markets-regulation/fundamental-review-of-the-trading-book-frtb/
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