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U.S. Softens Basel Stance

Fed said ready to compromise on so-called output floor, in push for a deal on capital rules.

By Boris Groendahl, Jesse Hamilton and Silla Brush, Bloomberg | Updated on May 10, 2017

The U.S. has softened its position in talks on global bank-capital rules, easing a months-long deadlock with the European Union and boosting the chances of a deal.

The Federal Reserve, which leads the U.S. delegation in the Basel Committee on Banking Supervision, is ready to compromise on the level of a disputed output floor, according to two people with knowledge of the talks. The floor is a blunt check on firms’ use of their own statistical models to measure asset risk, part of the process for determining their capital requirements.

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