Banks will get 8 years to comply with Basel III rules

The main governing body of the Basel Committee on Banking Supervision increased capital ratios for banks but gave them until 2018 to fully comply. Regulators are requiring banks worldwide to have common equity of at least 4.5% of assets, and an additional 2.5% will be introduced as buffer. Banks that don't comply will be barred from paying dividends, according to the committee. The rules also will require lenders to maintain a 6% Tier 1 capital ratio. AFME welcomed the extended phase-in period but said "significant concerns" about the changes remain.

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