President Donald Trump's review of post-crisis banking rules could sound the death knell for new global standards now being finalised and rip apart a common approach to regulating international lenders, bankers and regulators said. Central banks and watchdogs around the world have spent the past eight years drawing up regulation aimed at preventing a repeat of the 2007-2009 financial crisis, but there are fears that project could unravel after Trump said he wants the U.S. to row back on capital rules. Trump's order for a regulatory review to overcome what he sees as obstacles to lending came as banking watchdogs were trying to complete the final piece of global capital requirements, known as Basel III.
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