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G-20 Nations Renew Commitment to Global Bank-Capital Overhaul

Basel Committee should finalize reform, finance chiefs say.

By Alexander Weber and Rainer Buergin, Bloomberg | Updated on March 20, 2017

Finance chiefs of the Group of 20 nations renewed their pledge to finalize an overhaul of global bank capital rules, but stopped short of making progress on certain proposals that have led to a standoff between Europe and the U.S.

In the statement capping a two-day meeting in the German town of Baden-Baden, the G-20 urged the Basel Committee on Banking Supervision to finalize the Basel III reforms “without further significantly increasing overall capital requirements,” sticking to previous language. After the work already missed a year-end deadline, the document didn’t include a new time frame.

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