Maria Luís Albuquerque, EU Commissioner-designate for Financial Services, has signaled a firm commitment to defending global banking standards, as reported by Euractiv.
Unlike some of her potential colleagues who advocate for reconsidering regulation to boost competitiveness, Albuquerque emphasized the need to implement, not roll back, the Basel III framework. Highlighting the importance of uniformity, she stressed that the EU plans to apply the Basel III reforms to all 4,500 banks operating in the region, rather than just the internationally significant ones.
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