A panel of central bankers, regulators and officials is proposing new rules that would require 30 of the world's largest banks to hold vastly greater capital as a cushion in case of losses.
The Basel, Switzerland,-based Financial Stability Board says its proposal would not take effect until 2019 at the earliest and is meant to prevent a repeat of the 2008 global financial crisis by creating a common international standard for the "total loss-absorbing capacity" of global systemic banks.
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The FSB said in a statement Monday that its proposals are a response to Group of 20 concerns.
One proposal could more than double the current requirement that banks hold capital buffers equivalent to at least 7 percent of risk-weighted assets by 2019.