The Great Unwind in the global financial sector has led to the Great Reset. New banking rules aim to strengthen bank finances and reign in excessive risk-taking. But could they also slow economic recovery?
New banking rules brokered by the Basel Committee on Banking Supervision - dubbed Basel III - will force banks to increase their capital reserves significantly. The agreement is intended to curb the risky activities that thrived and ultimately upended Wall Street - and shook the global economy to the core.
The world's major central banks argue the new rules will ensure the interconnected global banking system avoids a crisis like the most recent one that led to taxpayer bailouts around the world.
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New global banking rules aim at greater protection