Dsince Mary Poppinswe know that bankers are overly serious people who hide deep within themselves a child's soul. This is perhaps what came spontaneously from the mind of Jamie Dimon, the boss of JP Morgan, the largest bank in the United States. During a debate at the Asia-Pacific Cooperation summit in Lima on November 15, 2024, he suddenly declared that Donald Trump's victory had put them in such a state of joy that « c’[était] as if they were dancing in the street”.
Unfortunately, it was not an outburst of youthful humanity that put them in this mood, but candidate Trump's promise to defeat the regulation that depresses all the bankers in Europe and America: the Basel Accords. Imagined after the banking crisis of 2008 by the main central banks, they aim to require banks, and mainly the largest ones, to constitute, in relation to the loans they grant, a sufficient cushion of equity capital to react in the event of hard blow. The third version of this regulation, called “Basel III”, discreetly came into force this January, and the major European banks have moved to comply with this rule which imposes heavy IT investments and can limit the activity of ready.
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