Monday, July 8, 2013

Basel III regulations WERE voted in, as expected, on July 2, 2013


Basel III regulations WERE voted in, as expected, on July 2, 2013:
6/27/13 10:27 PM

WASHINGTON (MarketWatch) - 


The Federal Reserve plans to vote July 2 on whether to adopt a year-old proposal to implement a global agreement on bank capital buffers, known as Basel III, a critical step to ensure that large financial institutions are sufficiently cushioned against future financial shocks. Based on the proposal, which implements the international accord agreed to in September 2010, banks will be required to hold the strictest form of common-equity capital at 7% of their risk-based assets, up from 2% currently. U.S. bank regulators may seek to adopt a tougher new leverage limit rule for banks as a separate proposal. The Fed approved the introduction of the Basel III proposal by a vote of 7 to 0.

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