BASEL, SWITZERLAND. Global regulators, seeking to prevent any repeat of the international credit crisis, agreed yesterday to force banks to more than triple the amount of top-quality capital which they must hold in reserve.


The “Basel III” reforms will require banks to hold high-quality capital — known as “core Tier 1 capital,” and consisting of equity or retained earnings — equivalent to at least 4.5 percent of their risk-bearing assets. That is up from just 2 percent under current rules.

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