• Text size
  • Send this article to a friend
  • Print this article

Banks face tough new rules under Basel proposals

The Basel Committee on Banking Supervision – the leading standards-setting agency for banks around the world – has brought down tougher-than-expected rules on how financial institutions will do business in the future and may require UK and other European banks to seek billions of dollars in additional capital to bolster cash reserves.

The proposals provide an international accord that will overhaul the entire industry’s approach to risk management.