Canada throws weight behind Basel III, lauding output gains
The Bank of Canada on Wednesday backed the view that Basel III framework would have large long-term benefits to output growth.
On conservative estimates, the central bank said the framework would save Canada C$200 billion ($192 billion) as a result of there being fewer financial crises even after the costs of having to hold more capital and more liquid assets are taken into account. The framework, which will be formally announced at the end of this year, and is expected to raise the floor on
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