Bank of America CEO Brian Moynihan said U.S. authorities need to be careful when implementing new capital requirements of the Basel III accord to avoid reducing the ability of U.S. banks to compete globally.
In an interview with Fox Business, Moynihan said the process needs to assure “the playing field is level,” saying the rules should be implemented carefully “so to not make the U.S. less competitive.”
Read More : Bank of America CEO Raises Concerns about Impact of Higher Capital Requirements