Banks
New Basel rules on capital hit European banks
Top international central bankers, regulators strike long-awaited deal on bank capital rules that Draghi hails as final step of post-financial crisis reforms
Top international central bankers and regulators have struck a long-awaited deal on bank capital rules that Mario Draghi hailed as the final step of post-financial crisis reforms and which resolves a transatlantic rift on the treatment of the industry.
The global reform package, unveiled on Thursday, will hit European banks the hardest. They will have to increase their capital due to, among other factors, limits on how much the biggest banks can diverge from regulators' risk calculations for assets such as mortgages.
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