| Reuters: "Basel Committee of global banking regulators published on Thursday the final text of Basel III, which will force banks to triple the amount of capital held to withstand shocks.World leaders agreed in Seoul last month the new rules would be phased in between 2013 and 2018.
'The transition period provides banks with ample time to move to the new standards in a manner consistent with a sound economic recovery, while raising the safeguards in the system against economic or financial shocks,' Basel Committee Chairman, Nout Wellink, said in a statement.
The final text confirms all key ratios and their timing, as expected.
The text has been fleshed out in some areas, particularly as regards the new and first set of global liquidity standards to allow countries like Denmark and Australia more flexibility."
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