Carstens warns fading regulatory momentum strengthens ‘vested interests’
BIS chief says complacency could set in as regulators move from implementation to evaluation
The Bank for International Settlements’ Agustín Carstens has warned that as the “regulatory cycle” begins to turn, “vested interests” will start to regroup and fight back.
The BIS general manager told a conference in Madrid that regulators were moving into the “third phase” of the cycle. Regulations have been designed (phase one) and largely implemented (phase two), including measures to tailor global rules to “national realities”.
In the third phase, in which rules are evaluated, Carstens
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