Big banks have work to do to meet Basel III, survey finds

If Basel III capital rules for banks had been implemented in June, the biggest global banks would have needed $639.5 billion in additional core reserves. The Basel Committee on Banking Supervision surveyed 212 banks about their preparedness for Basel III, which is scheduled to be phased in during the next several years. The lenders also would have needed $2.31 trillion in assets that are easy to sell to meet liquidity requirements.

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