New bank rules are kind without being weak

ECB President Mario Draghi attends a press conference on the Basel III framework reforms agreed in Frankfurt Main Germany | Armando Babani  EPA

The oversight board of the Basel Committee on Banking Supervision agreed on the last batch of rules Thursday in Frankfurt, Germany.

Global bank regulators broke a year-long deadlock and closed the book on Basel III, a sweeping set of capital rules begun in the aftermath of the 2008 financial crisis. They set limits on how far banks can diverge from regulatory requirements to keep financial buffers against losses.

Mario Draghi said the so-called "Basel III" reforms will improve confidence in banking systems. They increased the amount of capital banks had to hold as a financial buffer, as measured against the risks they had taken by extending loans like mortgages.

Global banking regulators on December 7 finalised new rules on how banks assess the riskiness of their assets for the objective of calculating minimum capital ratios.

That means that banks' risk-weighted assets, measured under their own internal models, can not be less than 72.5 percent of the value reached with a standardized approach.

Es oficial: Vaticano nombra a Cardenal Aguiar Arzobispo Primado de México
Aguiar Retes nació el 9 de enero de 1950 en Tepic, Nayarit; entre 1961 y 1969 realizó los estudios de Humanidades y Filosofía en el seminario de Tepic.

And the committee also pushed back deadlines, giving lawmakers time to implement the new global rules and banks time to prepare for their application.

But states generally follow their financial experts' lead by passing the deals into law.

Standard Chartered said it is well-capitalised with a strong and liquid balance sheet that demonstrated its resilience in the recent Bank of England stress test, and added that it had a Common Equity Tier 1 ratio of 13.6% as at the end of the third quarter of 2017.

"It is now essential that all major jurisdictions implement all elements of this agreement", European Commission vice-president Valdis Dombrovskis said in a statement.

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