|Published : 11 Oct 2016, 21:46:27|
EU countries at odds over banking reform
LUXEMBOURG, Oct 11 (Reuters): European Union countries were at odds on Tuesday over a global reform of banking rules with divergent views about a cap on increases in banks' capital buffers that might result from the review.
The Basel Committee, banking supervisors from nearly 30 countries, is due to complete its reform, known as Basel III, by the end of 2016. The new rules are meant to make the sector more financially sound by reducing reliance on internal risk models.
European banks and regulators have warned against an excessive increase in capital requirements that could affect mostly European banks because they use internal models more than their U.S. rivals, which rely more on standardised methodology.