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ARTICLE · 21 NOVEMBER 2010

Blog: Basel III

Norton Rose Fulbright Australia
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On 12 September 2010, the Group of Governors and Heads of Supervision of the Basel Committee on Banking Supervision announced that they had reached agreement on measures that would fundamentally strengthen global capital standards

AustraliaFinance and Banking
Jeremy Edwards
Jeremy Edwards
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Introduction

On 12 September 2010, the Group of Governors and Heads of Supervision of the Basel Committee on Banking Supervision announced that they had reached agreement on measures that would fundamentally strengthen global capital standards. A key requirement under the new rules, known as Basel III, would be that banks would have to hold top quality capital totalling 7 per cent of their risk bearing assets, a significant increase from 2 per cent.

The purpose of this blog is to provide an update on the progress of the implementation of the Basel III framework. Our teams in banking and financial services will also be providing their insight into the issues as they unfold.

G20 summit in Seoul - consistent implementation required

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