Basel publishes final rules to tackle "too big to fail" banks
Global regulators have published final rules that aim to limit the impact on financial markets if mega banks run into trouble.
The rules must be applied by the world's 30 biggest "systemically important" banks like Goldman Sachs (GS.N), HSBC (HSBA.L) and Societe Generale (SOGN.PA) in a bid to make sure they have enough resources to call on in a crisis to avoid taxpayer bailouts.
Banks will have to issue billions of dollars in known as total loss absorbing capacity debt or TLAC debt which can be written down to avoid burning through all their capital in a crisis.
TLAC is seen as a... read more
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