LONDON (Reuters) - There is no real evidence that the United States will abandon key financial regulation under President Donald Trump, a top Bank of England official said on Wednesday.
Trump, who takes office in January, has said he wants to ditch parts of Dodd Frank, a core reform of Wall Street that includes rules on bank capital requirements.
BoE Deputy Governor Sam Woods said U.S. bank shares have risen on the prospect of a lighter touch regime. "Whether that view is at all well evidenced, I am rather doubtful," Woods told parliament's Treasury Select Committee.
Regarding regulation in Britain, the BoE has been very clear that "we are not going backwards", Woods said. "If other countries choose to go backwards, that is not what we are going to do."
(Reporting by Huw Jones; Editing by Adrian Croft)
- All of these celebrities have had their nudes leaked 35 Pictures
- Here's what it's like to fish for your dinner at Zauo NYC (photos) 21 Pictures
- PHOTOS: The best cosplay of NYCC 2018, Day 3 44 Pictures
- PHOTOS: Looking back at Heidi Klum's best Halloween costumes 19 Pictures
- PHOTOS: Nightmare Machine, the haunted house for millennials 14 Pictures
- American Music Awards 2018: Red carpet looks, list of winners 23 Pictures
- What you need to know about MTV's 'How Far Is Tattoo Far?' 9 Pictures
- Who is Alexander Edwards, Amber Rose's new boyfriend? 9 Pictures
- Are Blac Chyna and Rob Kardashian getting back together? 8 Pictures
- Anne Frank's Diary now comes as a graphic novel 3 Pictures
- Reimagine End of Life celebrates all things death and dying 5 Pictures