Basel III features win governors' seal of approval
The Basel Committee on Banking Supervision's oversight body on Monday gave its seal of approval to parts of forthcoming ‘Basel III' proposals that seek to tighten capital and liquidity standards.
"The agreements reached today are a landmark achievement to strengthen banking sector resilience in a manner that reflects the key lessons of the crisis," Jean-Claude Trichet, the president of the European Central Bank who heads the oversight body, said. "We will put in place transition arrangements
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