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Large banks will need to raise about [euro]577 billion to meet new Basel III capital rules, according to the Basel Committee on Banking Supervision.
The committee on Dec. 16 released the final Basel III text for rules detailing the capital, risk, leverage and other standards to be met by financial institutions in the future.
According to the Basel III framework, banks should maintain core Tier 1 capital ratios of 4.5%, and Tier 1 ratios of at least 6%. The new rules will be implemented in a...