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The Basel Committee issued the Basel III rules text, which presents the details of global regulatory standards on bank Capital adequacy and Liquidity agreed by the Governors and Heads of Supervision, and endorsed by the G20 Leaders at their November Seoul summit. The Committee also published the results of its comprehensive quantitative impact study (QIS). Mr Nout Wellink, Chairman of the Basel Committee on Banking Supervision and President of the Netherlands Bank, described the Basel III Framework as "a landmark achievement that will help protect financial stability and promote sustainable economic growth. The higher levels of capital, combined with a global Liquidity framework, will significantly reduce the probability and severity of banking crises in the future." He added that "with...
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