BIS’s Caruana lauds Basel III
Jaime Caruana, the general manager of the Bank for International Settlements, on Tuesday outlined the "historic" importance of the Basel III reforms.
The higher minimums for common equity and tier one capital will be phased in between 2013 and the beginning of 2015, he said. The final requirements will be 4.5% and 6% respectively.
The higher quantitative requirements were complimentary to new stricter definitions of "core capital", Caruana said. The "macroprudential overlay" included in Basel
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