It has been a long and exhausting labour of love. Between 200 and 300 bank regulators from the wealthy G10 countries have flown many thousands of miles and held countless hours of meetings. The Basel Committee on Banking Supervision, which meets under the auspices of the Bank for International Settlements (BIS), has spent the best part of two years rewriting the rules on bank capital.
The committee, chaired by New York Federal Reserve president Bill McDonough, steered the discussions.
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