Basel oversight body approves reform package

At a September 6 meeting held at the Bank for International Settlements, the joint group of central bank governors and senior regulators that oversees the Basel Committee on Banking Supervision gave its backing to the raft of regulatory reforms currently being worked on by the Committee.

The central bankers and regulators of the 27 member states of the Basel Committee reviewed and gave their support to reforms including a requirement to raise the quality, consistency and transparency of Tier I

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