U.S. efforts to dismantle some bank regulations have left globalwork on a post-crisis framework in limbo, according to the chieffinancial officer of Denmark's biggest bank.

Talks focused on concluding the final chapter of standards underthe Basel Committee on Banking Supervision, dubbed Basel IV by theindustry, now look “a bit up in the air,” Jacob Aarup-Andersen, CFOof Danske Bank A/S, said in an interview on Bloomberg TV onTuesday.

Aarup-Andersen is the latest banker to add his voice toindustry calls that Europe not move independently of the U.S., amidwarnings that doing so would put lenders in the region at acompetitive disadvantage.

Banks are justified in wanting equal terms on both sides of theAtlantic, Aarup-Andersen said. “What is important for us is verymuch that we get a level playing field, that we don't get a U.S.deregulation that is not followed up by European regulations aswell.”

The administration of President Donald Trump has demanded thatregulators produce a study on financial rules within 120 days as afirst step toward unwinding safeguards put in place by the Obamaadministration following the 2008 financial meltdown. Regulationsthat Trump plans to target include a ban on proprietary trading, arequirement that risky financial companies be subject to toughFederal Reserve oversight, and rules for taking down failed banks.The Consumer Financial Protection Bureau may also be axed.

It remains to be seen how much of the talk coming from the Trumpadministration is just noise and how much will actually make itsway into the legislation.

“There is a lot of thunder at the moment, but let us see whatthe concrete measures will actually be,” Aarup-Andersen said. “Butthere is no doubt that it has thrown up a number of things,including Basel IV, a little bit up in the air.”

At Danske Bank, management is taking a “conservative” approachin interpreting the signals coming from the U.S., he said. “Let'snot celebrate too early, but there are some elements that are rightin terms of the deregulation agenda.”

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