More time for banks on Basel

 
Ben Southwood
Follow Ben
BANKS will get more time to build up cash buffers to protect against market shocks under a rule change that could help free up credit for struggling economies, a European regulatory source said.

The Basel Committee, made up of banking supervisors from nearly 30 countries, is expected to announce the revision on Sunday to its “liquidity coverage” ratio or LCR, part of efforts to make banks less likely to need taxpayer help in a crisis. The change comes after heavy pressure from banks and some regulators.