Central Bankers: Basel III on Track with Capital Rules

This past Sunday, September 11th, the Group of Central Bank Governors and Heads of Supervision (GHOS), whose members include the Federal Reserve, the Bank of England and the European Central Bank (ECB), met to review progress so far on finalizing the Basel III reforms ushered in by the financial crisis, according to a recent Reuters article.

"The GHOS endorsed the broad direction of the Committee's reforms," it said in a statement.

"The GHOS discussed the Basel Committee's ongoing cumulative impact assessment and reaffirmed that, as a result of this assessment; the committee should focus on not significantly increasing overall capital requirements."

"Finalizing the committee's post-crisis reforms will complete Basel III and help restore confidence in banks’ risk-weighted capital ratios," said Mario Draghi, who heads the ECB and chairs GHOS.

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