Big Banks Cut Basel III Shortfall

The gap in reserves narrowed to 115 billion euros at the end of 2012.

The largest global banks cut the shortfall in the reserves they’ll need to meet Basel capital rules by 82.9 billion euros ($112 billion) in the second half of 2012, leaving a gap of 115 billion euros.

“Shortfalls in the risk-based capital of large internationally active banks continue to shrink,” the Basel Committee on Banking Supervision said in a statement on its website. The capital gap narrowed by about 42 percent at the end of 2012 compared with the middle of last year, the group said. The requirements, known as Basel III, are scheduled to fully phase in by 2019.

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