Basel III agrees on 7% core capital
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Banks will require a minimum core Tier 1 capital ratio of 7% after an agreement was struck at the Basel Committee on Banking Supervision.
The BBC reports that most British banks will be unaffected as they currently have a core of 10%.
The previous international minimum was just 2% reports suggesting an increase to 8% or 9% have proved to be false.
Central bank governors and senior regulators are expected to confirm the agreement when they meet in Basel on Sunday.
World leaders are expected to finally ratify the deal at the G20 summit in November.
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