‘Trump takes first steps for customizing bankenregels’ – NU.nl

The American president Donald Trump has made the first steps to more stringent rules for banks to dismantle. It comes to rules after the financial crisis are introduced.

According to various media, he will various decrees to issue to achieve that.

Trump has aimed his arrows at the so-called Dodd-Frank Act of 2010. That limited the possibilities of banks to trade for their own account.

Also, the law for reinforcing the surveillance of banks who, because of their size may pose a risk to the entire financial sector. Further created the law, a new regulator for the interests of consumers. Trump announced in his campaign on this legislation to undo to want to create.

Congress

The possibilities of Trump to this on his own to decide are limited. For major modifications the assent of Congress necessary. The president can his decrees to his priorities clearly, and for supervisors to instruct.

The ‘America first’vision of Trump it was this week also visible

in the debate on new international rules for banks. A leading Republican, called the Federal Reserve – the system of central banks – with the clamp on all negotiations to cease until Trump officials has been appointed to the American interest.

Criticism

The Fed has no eye for the interests of the US in international talks on bankenregels, the Republican vice chairman of the bankencomité of the U.s. Congress. As a result, the U.s. central bank, according to him, responsible for the destruction of jobs in the US.

The criticism focused on the discussions in the international Basel Committee on Banking supervision. Therein steggelen Europe and the US have been for a long time about strengthening the rules. Among others, the Netherlands, resistance is against the US-supported proposals, that banks would force a lot more money to maintain compared to outstanding mortgage loans. That would certainly make for Dutch banks very affect.

By: ANP