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Hoping to achieve a level of security and safety for international banking which could be relied upon to prevent future economic crisis like that of the 2008 disaster, the Basel Committee on Banking Supervision talks ended in a compromise whose efficacy is seriously in doubt.On September 12 results were reached concerning capital and liquidity rules which few of the participants to the talks are happy with. Although the committee set standards which are tough, and some say next to impossible to implement, there is also a large time frame in which banks have before implementation is required. For most of the new rules banks have 8 years to adjust themselves and comply, while for some other regulations they will have as much as 13 years for compliance.
