Basel committee agrees new bank capital rules

Telegraph – New banking rules to prevent a repeat of the financial crisis will not come fully into force for seven and a half years as part of a “broad accord” on the design of banking reform struck on Monday by global regulators. In a landmark agreement, the Basel Committee on Banking Supervision has decided to stagger the implementation of new rules over five years – starting on January 1, 2013. Full reform must be completed by January 1, 2018, the committee said. Read Article

Tags: banks, Europe, financial system