Banks given four more years to introduce minimum liquidity standards

Bank of England governor Mervyn King says concessions will allow banks to use reserves to help struggling economies grow Banks have won a significant concession from global regulators after being granted four more years to introduce measures that will make them less vulnerable to Northern Rock-style runs and financial shocks. The Basel committee of banking supervisors has also relaxed proposals on the range of assets that banks must hold as a buffer against the threat of a collapse. Mervyn King,...