Morgan Stanley CEO says his firm is ready for 'Basel III endgame' — the sweeping new global rules on banking
Publishing timestamp: 2023-11-16 06:26:37
Summary
The article discusses the proposed changes to banks' capital requirements in the U.S., which aim to incorporate parts of international banking regulations known as Basel III. The CEO of Morgan Stanley, James Gorman, believes his firm will be able to manage any form of new regulations but expects some changes before final rules are confirmed. He also discusses the bank's conservative approach to capital and its focus on wealth management in Asia. Gorman also comments on inflation and the actions of central banks.
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Keywords: singapore, james gorman, united states, asia economy, new york, morgan stanley, breaking news: markets, u.s. economy, markets, business news, banks,