最新巴塞尔协议三中英对照文档格式.docx

1、12 September 2010At its 12 September 2010 meeting, the Group of Governors and Heads of Supervision, the oversight body of the Basel Committee on Banking Supervision, announced a substantial strengthening of existing capital requirements and fully endorsed the agreements it reached on 26 July 2010. T

2、hese capital reforms, together with the introduction of a global liquidity standard, deliver on the core of the global financial reform agenda and will be presented to the Seoul G20 Leaders summit in November. The Committees package of reforms will increase the minimum common equity requirement from

3、 2% to 4.5%. In addition, banks will be required to hold a capital conservation buffer of 2.5% to withstand future periods of stress bringing the total common equity requirements to 7%. This reinforces the stronger definition of capital agreed by Governors and Heads of Supervision in July and the hi

4、gher capital requirements for trading, derivative and securitisation activities to be introduced at the end of 2011. Mr Jean-Claude Trichet, President of the European Central Bank and Chairman of the Group of Governors and Heads of Supervision, said that the agreements reached today are a fundamenta

5、l strengthening of global capital standards. He added that their contribution to long term financial stability and growth will be substantial. The transition arrangements will enable banks to meet the new standards while supporting the economic recovery. Mr Nout Wellink, Chairman of the Basel Commit

6、tee on Banking Supervision and President of the Netherlands Bank, added that the combination of a much stronger definition of capital, higher absorbing capital will be implemented according to national circumstances. The purpose of the countercyclical buffer is to achieve the broader macroprudential

7、 goal of protecting the banking sector from periods of excess aggregate credit growth. For any given country, this buffer will only be in effect when there is excess credit growth that is resulting in a system wide build up of risk. The countercyclical buffer, when in effect, would be introduced as

8、an extension of the conservation buffer range. These capital requirements are supplemented by a non-risk-based leverage ratio that will serve as a backstop to the risk-based measures described above. In July, Governors and Heads of Supervision agreed to test a minimum Tier 1 leverage ratio of 3% dur

9、ing the parallel run period. Based on the results of the parallel run period, any final adjustments would be carried out in the first half of 2017 with a view to migrating to a Pillar 1 treatment on 1 January 2018 based on appropriate review and calibration. Systemically important banks should have

10、loss absorbing capacity beyond the standards announced today and work continues on this issue in the Financial Stability Board and relevant Basel Committee work streams. The Basel Committee and the FSB are developing a well integrated approach to systemically important financial institutions which c

11、ould include combinations of capital surcharges, contingent capital and bail-in debt. In addition, work is continuing to strengthen resolution regimes. The Basel Committee also recently issued a consultative document Proposal to ensure the loss absorbency of regulatory capital at the point of non-vi

12、ability. Governors and Heads of Supervision endorse the aim to strengthen the loss absorbency of non-common Tier 1 and Tier 2 capital instruments. Transition arrangements Since the onset of the crisis, banks have already undertaken substantial efforts to raise their capital levels. However, prelimin

13、ary results of the Committees comprehensive quantitative impact study show that as of the end of 2009, large banks will need, in the aggregate, a significant amount of additional capital to meet these new requirements. Smaller banks, which are particularly important for lending to the SME sector, fo

14、r the most part already meet these higher standards. The Governors and Heads of Supervision also agreed on transitional arrangements for implementing the new standards. These will help ensure that the banking sector can meet the higher capital standards through reasonable earnings retention and capi

15、tal raising, while still supporting lending to the economy. The transitional arrangements, which are summarised in Annex 2, include: National implementation by member countries will begin on 1 January 2013. Member countries must translate the rules into national laws and regulations before this date

16、. As of 1 January 2013, banks will be required to meet the following new minimum requirements in relation to risk-weighted assets （RWAs）:3.5% common equity/RWAs;4.5% Tier 1 capital/RWAs, and 8.0% total capital/RWAs. The minimum common equity and Tier 1 requirements will be phased in between 1 January 2013 and 1 January 2015. On 1 Janu