Top central Banks Aim for Tougher Financial Rules
19/12/2009 21:59:00
Leading central bankers and national regulators said Thursday they were aiming to introduce proposals to strengthen international financial requirements on banks by the end of 2012.
The agreed reforms, which have been in the offing for several months, are part of a "comprehensive response" to the financial crisis, the Basel Committee on Banking Supervision said in a statement.
"The capital and liquidity proposals will result in more resilient banks and a sounder banking and financial system," said Dutch central bank chief Nout Wellink, chairman of the Basel Committee.
“The Committee is mindful of the need to introduce these measures in a manner that raises the resilience of the banking sector over the longer term, while avoiding negative effects on bank lending activity that could impair the economic recovery," it added.
The group of central bankers and national financial regulators from 27 leading economies had already approved strengthened regulation and supervision and revised "Basel II" capital requirements in July and September.
19/12/2009 21:59:00
Leading central bankers and national regulators said Thursday they were aiming to introduce proposals to strengthen international financial requirements on banks by the end of 2012.
The agreed reforms, which have been in the offing for several months, are part of a "comprehensive response" to the financial crisis, the Basel Committee on Banking Supervision said in a statement.
"The capital and liquidity proposals will result in more resilient banks and a sounder banking and financial system," said Dutch central bank chief Nout Wellink, chairman of the Basel Committee.
“The Committee is mindful of the need to introduce these measures in a manner that raises the resilience of the banking sector over the longer term, while avoiding negative effects on bank lending activity that could impair the economic recovery," it added.
The group of central bankers and national financial regulators from 27 leading economies had already approved strengthened regulation and supervision and revised "Basel II" capital requirements in July and September.