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BCBS Statement: Basel Committee issues final elements of the reforms to raise the quality of regulatory capital

( January 13, 2011, 13:35 GMT | Official Statement) -- MLex Summary: Global banking standard-setters have allowed for two approaches to meet a requirement that banks' capital instruments absorb losses at the point of non-viability, to prevent the need for government bailouts. Whether by contractual clause or by law in the bank's jurisdiction, authorities must have the power to write down non-stock securities or convert them into equity. Otherwise, such instruments -- for those issued starting in 2013 -- can't count towards capital requirements.The Basel Committee today issued minimum requirements to ensure that all classes of capital instruments fully absorb losses at the point of non-viability before taxpayers are exposed to loss....

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