Regulators, lenders clash over Basel III

The largest global banks would have needed an extra €485.6 billion in their core reserves to meet Basel capital rules, had the standards been enforced last June.

The 212 lenders surveyed would have needed to find a combined €1.76 trillion in easy-to-sell assets to meet a minimum liquidity rule set by the Basel Committee on Banking Supervision, the group said in a statement on its website. The measures are scheduled to be phased in by 2019.

Global regulators have clashed with lenders over the severity of the capital and liquidity rules, which were set out in 2010 as part of an overhaul of banking regulation in the wake of the financial crisis that followed the collapse of Lehman Brothers Holdings Inc. The measures, known as Basel III, will more than triple the core capital lenders must hold to at least 7% of assets, weighted for risk.