Financial Transparency Coalition

Central Bank Governors met in Basel, Switzerland earlier this month and proposed tripling the capital reserve requirement to 7 percent. This came shortly after the Financial Stability Board and Basel Committee for Banking Supervision released a joint statement that said that the benefits of implementing stronger capital and liquidity requirements – which increase the safety and soundness of the banking system – would have net, long-term benefits for the global economy. Many banks argue that having to comply with higher capital requirements by holding onto more of their money would hamper economic development and slow...