Banks need billions to meet Basel III, 2 committees say

12/16/2010 | New York Times (tiered subscription model), The

Two influential regulators said major global banks, particularly those in Europe, might need to come up with hundreds of billions in capital reserves to comply with the Basel III rules. The Basel Committee on Banking Supervision offered more information about its rules for global financial institutions. The Committee of European Banking Supervisors released a study outlining the capital shortfall for Europe's 50 biggest banks. The transition period for banks to comply with Basel III is fairly long, but market pressures could force them to act sooner.

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