EU escalates stand-off with US on global bank-capital rules
Debate in Basel pits other bank regulators against a US-backed push for stiffer standards
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Vienna
THE European Union (EU) upped the ante in its battle with the US over changes to global bank-capital rules, calling for a key plank of the reforms to be scrapped.
The EU, home to nearly half of the world's biggest banks, opposes the introduction of capital floors, a restriction on firms' use of their own statistical models to measure asset risk that would drive up their capital requirements, an EU official said.
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