Basel panel reportedly plans to keep surcharge for major banks

09/28/2011 | Bloomberg

The Basel Committee on Banking Supervision discussed criticism from major banks about a plan to levy a capital surcharge on them, sources said. However, the regulator appears resolved proceed with the plan. BNP Paribas, Citigroup and other large financial institutions are concerned that the surcharge would hinder recovery of the financial system. Some regulators acknowledged that the method for calculating the levy might be flawed and require further study.

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