Regulators race to reach pact on bank capital

London

GLOBAL banking regulators are scrambling to reach a compromise on new capital standards as political support wanes in Europe and the US for new curbs on the industry.

The Basel Committee on Banking Supervision is huddling at a private meeting in Santiago, Chile, on Monday and Tuesday to try to bridge deep divides between the US, Europe and other nations on a package of rules billed as the final international regulatory response to the 2008 financial crisis.