Newsletter October 2012: Big banks need €374 billion to comply with Basel III

BASEL – Many large banks already meet the tougher Basel III capital standards, but those that don’t were, at the start of this year, around €374.1 billion short of what they will need, in aggregate, to fully comply with the new rules. That is revealed by the latest monitoring exercise conducted by the Basel Committee. A semi-annual monitoring framework has been set up by the Committee, which crafted the Basel III capital and liquidity standards, in order to gather full evidence on their impact.