Basel III Endgame Is Dead, Marathon’s Bruce Richards Says

Long-running efforts to raise the capital requirements of the biggest US banks will likely end under the administration of President Elect Donald Trump, said Bruce Richards, chief executive officer of Marathon Asset Management.

Global banking rulemakers are putting together a round of rules known as Basel III Endgame, designed to ensure banks have enough capital. The US’s previously proposed implementation for those rules is now being revised and eased by regulators including the Federal Reserve, Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency.

“I do believe Basel III Endgame is dead,” Richards said on ...