Frankfurt, Dec 7 (AP) A global forum of bankingregulators has completed a set of rules aimed at keeping weakbanks from needing taxpayer bailouts and hurting the economy.
The oversight board of the Basel Committee on BankingSupervision agreed on the last batch of rules at a meeting inFrankfurt, Germany. They set limits on how far banks candiverge from regulatory requirements to keep financial buffersagainst losses.
Under the rules, the banks are limited in how far theycan diverge from regulators' assessment of how risky theirholdings are.
European Central Bank head Mario Draghi, who heads theBasel Committee's oversight board, said today that the stepwas "a major milestone that will make the capital frameworkmore robust." (AP)NSA.
This is unedited, unformatted feed from the Press Trust of India wire.