DEBT FINANCING. Database rules "anti-American" says JPMorgan CEO: FT

London (Reuters)-the United States should consider pulling the global regulators group Basel, Jamie Dimon, CEO of JP Morgan Chase, said in an interview with the Financial Times.
Dimon said he was favourable to force banks to have more capital, but argued that moves to impose an additional fee on the largest global banks was too far, particularly for creditors in the U.S..
He was quoted as describing the new international bank capital rules as "anti-American".
"I'm very close to thinking that the USA should no longer be in Basel. I would not have agreed to the rules that are blatantly anti-American, "he said in the interview.
"Our regulators must go there and say: ' If it is not in the interest of the United States, we are not doing '."
Capital rules of Basel III are designed to increase the security of the financial system, causing banks to build up risk capital-absorbing "core" tier one "at least 7% of risk-weighted assets. The largest, including JPMorgan, must reach 9.5 percent.
Dimon also criticized liquidity rules, arguing that obligations as high liquidity regulations covered that seen but with discount mortgage-mortgage-backed Government in the United States were unfair.
He added that other details hit investment banking core activity for u.s. banks more difficult because of the threat posed by Asian banks, in particular, could take U.S. market share due to the combination of u.s. national and global rules.
"I think any American President, the Secretary of the Treasury, regulator or other leader would want strong and healthy global financial companies and don't think that we should somehow give up this position in the world and that it would be good for your country".

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