Basel Committee says banks need to hold more capital

The Basel Committee on Banking Supervision issued proposals for the financial industry that include increased capital requirements and a tightening of the definition of acceptable capital. The committee's recommendations are influential but not binding, although many nations will use them as guidelines. "The capital and liquidity proposals will result in more resilient banks and a sounder banking and financial system," said Nout Wellink, chairman of the Basel Committee. "They will promote a better balance between financial innovation and sustainable growth."

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