During the first six months of 2012, the largest 101 banks in the world raised their core reserves by about €166 billion, according to the Basel Committee on Banking Supervision. Had Basel III been in force, the banks would have needed an additional €208.2 billion to meet capital rules. Christine Lagarde, managing director of the International Monetary Fund, says the pace of Basel III implementation "has been adjusted intentionally to support banks on the mend."

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