Bank reforms are not over: top regulator Draghi
Reforms to bank regulation are not over, top regulator Mario Draghi said Monday after tougher rules were unveiled, noting that issues with large global banks remained unresolved.
"It's not done! We have now a second part which is very, very important -- to address the problem of the systemically important institutions," said Draghi, speaking as the chairman of the Financial Stability Board.
Central bankers on Sunday agreed new rules that would require banks to raise the minimum capital reserves that they hold against losses.
But big banks of a size that can affect whole economic systems can expect to see further curbs.
Regulators said Sunday that such important banks should "should have loss absorbing capacity beyond the standards announced ... and work continues on this issue."
© 2010 AFP