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Decade in the making: post-crisis banking rules finally signed

December 8, 2017

Via: CNBC
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Financial regulators reached a long-sought deal on Thursday to harmonize global banking rules, capping a decade of effort to make banks more resilient even if they fell short of their own initial hopes.

Facing fierce opposition from the banking industry and calls from the U.S. administration to backtrack on some measures, policymakers struck a compromise agreement on rules forcing banks to hold more capital and cash to avoid a repeat of the 2008 financial crash.

Conceived in the aftermath of the global financial crisis when taxpayers had to rescue some of the world’s biggest lenders, the rules, known as Basel III, aim to shield governments by having private investors suffer losses first.

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