Global regulators gave banks four more years and greater flexibility on Sunday to build up cash buffers so they can use some of their reserves to help struggling economies grow.
The pull-back from a draconian earlier draft of new global bank liquidity rule to help prevent another financial crisis went further than banks had expected by allowing them a broader range of eligible assets.
Banks had complained they could not meet the January 2015 deadline to comply with the new rule on minimum holdings of easily sellable assets from the Basel Committee of banking supervisors and also supply credit to businesses and consumers.
Via – CNBC
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