Emerging from the chrysalis

Reaction to the interim Basel announcement of July 2010

The Group of Governors and Head of Supervision - the oversight body for the Basel Committee on Banking Supervision (BCBS) - announced on 26 July 2010 that it had reached broad agreement on many of the key elements of the proposed capital and liquidity reform package originally announced in December 2009. This comes shortly after the release of a consultation paper on countercyclical capital buffers.