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GAAP.RUNewsBanks win battle for limits to Basel III

Banks win battle for limits to Basel III

Author: Patrick Jenkins and Brooke Masters

Publication date: 25 June 2010

Plans by global regulators to compel banks to set aside billions of dollars in extra capital to cope with future crises are to be pared back after intense lobbying by the industry.

After wrangling over the details of a regulatory overhaul published six months ago, a consensus on the Basel committee is suggesting that its proposals be thinned down - a draft of the latest thinking of the committee, set up to oversee global financial regulation (“Basel III”), is to be presented at this weekend’s G20 summit in Toronto.