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Decade in the making: post-crisis banking rules finally signed

Reuters  |  FRANKFURT 

By Balazs Koranyi and Francesco CanepaFRANKFURT (Reuters) - Financial regulators reached a long-sought deal on Thursday to harmonize global banking rules, capping a decade-long effort to make banks more resilient although falling short of their own initial hopes.Facing fierce opposition from the banking industry and calls from the U.S. administration to backtrack on some measures, policymakers struck a compromise agreement on rules forcing banks to hold more capital and cash to avoid a repeat of the 2008 financial crash.Conceived in the aftermath of the global financial crisis when taxpayers ...

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First Published: Thu, December 07 2017. 21:37 IST