Minimal impact for Irish banks as Basel III agreed

Financial regulators have reached a deal to harmonise global banking rules, capping a decade of effort to make banks more resilient, even if they fall short of their own initial hopes.

Facing fierce opposition from the banking industry and calls from the US administration to backtrack on some measures, policymakers struck a compromise agreement on rules forcing banks to hold more capital and cash to avoid a repeat of the 2008 financial crash.