JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said the U.S. should consider withdrawing from the Basel group of global regulators and that new international capital rules are "anti-American," according to the Financial Times.
"I'm very close to thinking the United States shouldn't be in Basel anymore," Dimon said in an interview, the newspaper reported today. "I would not have agreed to rules that are blatantly anti-American."
Dimon, 55, who leads the most profitable U.S. lender, has criticized regulators for new global capital requirements under Basel III and U.S. rules being formulated under the Dodd-Frank Act. In June, Dimon took an unusual step in pressing Bernanke in a public forum on whether regulators have overreached in reining in the banking system and are slowing economic growth.
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.