Global regulators should agree “as quickly as possible” on the minimum amount of capital that banks must hold, a so called ‘floor’ that has held up the completion of a new rulebook known as Basel III, the European Central Bank’s top supervisor said on Tuesday.
“The final design and calibration of the floor are still being discussed, and the intention is to avoid significantly increasing the overall capital requirements for banks,” Daniele Nouy, chair of the ECB’s supervisory board, said in Vienna.
“It is crucial that an agreement is reached as quickly as possible. We have to finalise the entire Basel III package to ensure that a global standard is in place.”
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