EU Strikes Deal on Bank Capital Rules Years in the Making (1)

The European Union reached a tentative deal Tuesday on toughening up capital rules for banks to help prevent a repeat of the taxpayer-funded bailouts that followed the 2008 financial crisis.

EU member states agreed with the European Parliament on how to implement long-awaited global standards known as Basel III as part of a wider package of reforms that also touch on cryptoassets and sustainability risks.

Europe and the US are seeking to finish the complex and controversial set of policies to shore up the financial strength of banks after excessive risk taking almost broke the global economy. Yet as memories ...