A broadly similar set-up has been up and running in the United States ever since the Basel II regime was implemented. Any institution whose balance sheet exceeds a certain threshold there is subject to the Basel rules. However, it would only be possible to do the same here in Germany by creating rules at the European level.
Stanley Fischer: Emerging Asia in transition Speech by Mr Stanley Fischer, Vice Chair of the Board of Governors of the Federal Reserve System, at the 2015 Asia Economic Policy Conference “Policy Challenges in a Diverging Global Economy”, sponsored by the Federal Reserve Bank of San Francisco, San Francisco, California, 19 November 2015.