The Banks Battle Back
With the European Commission being the latest to propose a new bank levy, joining the IMF and governments in Europe and America. But the most important part of this reform is the international set of rules known as “Basel 3”, which govern the capital and liquidity banks carry. But will the Basel club of bank supervisors, December proposals, which aim to boost capital and get banks to wean themselves off short-term funding. Many say that the Basel club’s timetable, which is to have the proposals finalized by this year and implemented by late 2012, is unrealistic.
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