Years after Lehman: final rules set on strengthening banks

ECB President Mario Draghi attends a press conference on the Basel III framework reforms agreed in Frankfurt Main Germany | Armando Babani  EPA

The Basel III reforms are an internationally agreed set of measures developed by the Basel Committee on Banking Supervision in response to the financial crisis of 2007-09, and aim to strengthen the regulation, supervision and risk management of banks.

The Basel Committee on Banking Supervision said it would set a so-called output floor of 72.5 percent to be gradually phased in by January 1, 2027.

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The Financial Stability Board (FSB) welcomes the announcement by the Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision, that agreement has been reached on the finalisation of Basel III.

Under the rules, the banks are limited in how far they can diverge from regulators' assessment of how risky their holdings are. The reforms finalized today are meant to improve risk sensitivity, reduce regulatory capital variability, and level the playing field among internationally active banks. Top European Union officials first opposed the inclusion of this floor, then pushed for a level of 70 percent of the result yielded by using a standard formula set by regulators. Basel had originally proposed a floor as high as 90 percent.

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