EU Delays Trading-Book Rules to Blunt Wall Street Advantage (1)

The European Union’s executive arm has unveiled what it hopes will be its final workaround to shield its lenders from being temporarily hit by harsher trading-book rules than those faced by Wall Street rivals.

The European Commission on Thursday said it had adopted a proposal outlined in April to neutralize the capital impact of the latest Basel measures until 2030. The proposal, which also includes some minor technical tweaks, will now be subject to a scrutiny period from member states and the bloc’s parliament, which could last up to six months.

The EU move comes after the US watered ...