EU, US agree to fast-track bank rules - Barnier

The European Union and the United States have agreed to implement the new global Basel III capital adequacy rules for banks as soon as possible, EU financial services chief Michel Barnier said after a meeting in Washington.

The Basel rules are the world’s main regulatory response to the 2007-09 financial crisis, aimed at preventing a repeat crisis where banks had to be bailed out by their governments.

via Business feed http://www.scmp.com/business/banking-finance/article/1150797/eu-us-agree-fast-track-bank-rules-barnier