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BIS says banks still failing on Basel III

The world's top banks will have to plug a multi-billion euro hole if they are to comply with strict new rules on capital adequacy

The world's top banks are still falling far short of new regulatory targets on the amount of capital and liquid assets they must hold, the Bank for International Settlements said on Thursday.

Publishing the results of a survey about the new rules, known collectively as "Basel III," the bank said the 212 banks it sampled needed to raise more than €500bn in capital to boost their core Tier 1 equity to 7% of risk-weighted assets, as the rules require.

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