Global banking regulators delayed billions of dollars in new capital requirements by a year to January 2023 to let the industry respond to the coronavirus pandemic.
The decision applies to tough restrictions issued by the Basel Committee on Banking Supervision on how banks assess the risks of everything from mortgages to equities and complex derivatives handled by trading desks on Wall Street and around the world.
“It is important that banks and supervisors are able to commit their full resources to respond to the impact of Covid-19,” François Villeroy de Galhau, chairman of the Basel Committee’s oversight body, said in ...