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BCBS Statement: The Basel Committee issues final rules for global systemically important banks

( November 4, 2011, 14:30 GMT | Official Statement) -- MLex Summary: Global banking standard-setters issued their final rules for identifying banks so large, interconnected and important that their failure would pose a risk to the wider financial system. Between the start of 2016 and the end of 2018, such banks will have to build up additional Tier 1 common equity based on their risk profile, ranging from 1 percent to 2.5 percent of assets, with a possible top-up of 1 percent if a bank at the maximum increases its risk.The following is the text of the statement. Click the attachments at bottom for the rules text and a cover note detailing changes from the initial proposal....

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